Provident Fund contributions- limits - it company.. CiteHR
CiteHR
 
HOME ANSWERED NEW ABOUT LOGIN
Home > Human Resource Section > Labor & Employee Relations

Provident Fund contributions- limits

fabesd Started The Discussion:

Dear CitiHR, Our company is contributing to the PF fund only for employees who are drawing less than 6500/- The remaining employees are not taken in the scheme. Is it compulsary to include employees drawing more than 6500/- and contribute, or its is left to the discreation of the employer. Is there any rule in the PF act. Rgds Fabes

ANTONY_XAVIER - Contributing Member
Hi, I know a person who is drawing 13,000 p.m with out any deductions like PF. The company has approx 100 staff and it is an IT Company. Let me know what the Law says. Regards

Ashokchy - Contributing Member
Dear Fabes, As per the Act the employees who are drawing the Basic + DA equal or less then Rs.6500 ,The deduction for such employees towards PF is manadtory and if such person in due course of employment exceeds the limits even then he is eligible to get the PF contribution. If a person at the time of joining the organisation draws the Basic+DA more than the limit.This is total depends on Employers discretion and surly not mandatory. Regards Ashok Kumar 09818646314

fabesd - 
Dear Ashok, Many thanks to you and everyone in the forum. The reply was really helpful. Regards Fabes 9820934550

we are employer and contributing same p f as we deducted even if salary is more than 6500. any amendmend available

leo_paru - 
Dear As per rule limit is Basic 6500 per month. But for employee benefit company Cut PF (employee contribution + employer contribution) As it help in saving for long term and tax benefit. Maximum company do this for empolyee benefit. Thanks Parveen

Dear all, I work as a third party HR for a retail client.. Can somebody clarify me if PF is reduced on Basic+DA or only Basic salary...??? Further, what are the other options than providing OT to employees viz.. providing dinner, dinner allowances, conveyance etc...?? What all parts of a pay would attract ESI...??? Expecting your earliest response... Thanks & Regards Subhashinee

Madhu.T.K - Senior Member
For EPF it is Basic + DA wages taken for contribution. For determining the eligibility for coverage OT is not taken as part of salary, but if a covered employee earns OT in a month, then ESI contribution to total amount of salary including OT has to be paid. Instead of OT, if you pay any other allowance, like conveyance allowance, you can avoid contribution. But to what extend? If you pay conveyance instead of OT, and when the Factories Inspector calls for details of overtime work done, you are bound to show the amount of OT given, otherwise it is violation of Factories Act. Therefore, always pay as per head only. Regards, Madhu.T.K

Ramya.K - Contributing Member
Hello Friends, Could anyone send me the participant list format. I need to prepare for my 2 day training program Regards Ramya Mail Id: info@nabiasia.com

Dear Sir i want to know the guidelines for PF deductions on or within or above 6500 salary slab. please send me the reply ASAP,

Found This Useful? +Vote Up This Page Via Google.  

Why Vote? User validation is extremely important for good content to prosper.
Disclaimer: This network and the advice provided in good faith by our members only facilitates as a direction towards the actions necessary. The advice should be validated by proper consultation with a certified professional. The network or the members providing advice cannot be held liable for any consequences, under any circumstances.
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network. Add the url of this thread if you want to cite this discussion.
COMMUNITY SPONSORS


Explore Topical Knowledge Areas

Interesting Relevant Discussions


DISCUSSSION STATISTICS


13235
VIEWS

9
REPLIES

PLEASE KEEP YOUR CONDUCT PROFESSIONAL AND POLITE


3M Users, 100K+ Documents & 450K+ Discussions

Share »

Community Support & Professional Insights. Login & Explore or Register.
Email/Username     Password  

About Us - Advertise - Contact Us - RSS   On Google+  
All trademarks and copyrights held by respective owners. Member comments are owned by the poster.
Privacy Policy | Disclaimer | Terms Of Service
Facebook Page | Follow Us On Twitter | Linkedin Network