PF - Employer Contribution

labhendra · #31 23-09-2009, 08:29 PM

Aear All
PF can be calculated on what ever percentage suites your co. in case of basic more than6500- but only 8.33 % of 6500(Rs541) will atract eps which will be deposited in acc. no. 10 rest will go to acc. no 1.
Lalit kandpal

gangapuram · #32 24-09-2009, 11:02 AM

Dear all

the Management consultenccy is Exempted from labour law. please give the details regarding this issue.

Regards,
Santhosh

ankur rana · #33 24-09-2009, 11:49 AM

Dear Bhuvana.

if a employee draw the basic more than 6500/- then his contribution is on actual basic he drawn. And also the Employer is contribute on that current basic.

For ceiling amount 6500/- the employee and employer has to pass mutual order to strict the contribution with in the limit of 6500/-.

Thanx,
Ankur Rana

maheshbabuatp · #34 27-09-2009, 06:29 PM

Hi bhavana
Accordindg to my knowledge i am givingthe information if any amendments are required let me know pls.
The employee have option to take high percentage of contribution.A\c to provident fund act 1952 the minimum of 12%you can contribute,suppose if u want give more percentage u can do .but companywill pay only 13.61%.

Priyamathi · #35 21-10-2009, 02:24 PM

Hi jeevarathnam,
I am not clear abt the following can pls explain the same??
There are some companies where in the employer & employee contribution will be for their full basic & they will add it to their CTC. Then the company is not loosing anything from their pocket.

Thanks

S.Chandrasekar · #36 22-10-2009, 10:15 AM

Hi all,

It appears many have misunderstood some points. I am uploading for your reference the models as approved by RPF commissioner himself. Consult your Finance department and follow any of these that suits your company.

Regards,
Chandru
Consultant

jeevarathnam · #37 22-10-2009, 10:21 AM

Dear Priyamathi,

If the employee basic if more than 6500/-

1) If his basic cross 6500/- due to the increment then the Employee is eligible for PF.
2) If any employee joins the organisation and if he had the benefit of PF in earlier organisation then he is eligible for PF even here.
3) If any employee' basic is more than 6500/- then he will not be into mandatory beneficiary of PF. If organisation and employee interested then he can be benefited.
4) If basic is more than 6500/- then employer can deduct the PF amount either upto 12% of 6500/- or for his entire basic. for eg. If employee's basic is 10000/- then PF amount can be either 780.00 or 1200.00.

Yes you are rite. The same practice is going in most of the organisation.

Hope now you are clear.
If any doubt you can call me on my cell 9343753361 or 9164199051

Jeeva
9343753361
9164199051

Mahesh hmm · #38 07-11-2009, 10:21 AM

Hi

Can any one tell, related with PF on restricted basic:-
Can a company calculate PF on few employees on restricted basic and others purely on basic value (even if it exceeds Rs6500)

Thanks
Mahesh