EDLI Admin charge of 0.005% is applicable to which amount - total paid wage or PF wage ie. 12% of basic
From India, Mumbai
From India, Mumbai
EDLI Admin charge of 0.005% is wrong in fact it is 0.5% of basic.
The PF contribution is 12% of Basic salary from both employee and employer. Apart from it an employer also has to pay some administration charges. I explain you the various accounts of PF challan.
A/c No 1: PF contribution Account
A/c No 2: PF Admin account
A/c No 10: EPS account
A/c No 21: EDLIS account
A/c No 22: EDLIS admin account
PF admin charge = Employer has to pay 1.1 % of basic
EDLIS: Employer has to pay 0.5% of basic
EDLIS admin charge:Employer has to pay 0.01% of basic
Total additional percentage employer has to pay: 1.61% of basic
So employer has actually to pay 13.61 % of Basic and employee has to pay only 12% of basic.
Employees complete 12% goes to PF account while employer contributions' 8.33% goes to Pension fund and 3.67% goes to PF fund.
Hope it may clear to you and seniors please correct me if i am wrong.
Hemant Agarwal
From India, Faridabad
11The PF contribution is 12% of Basic salary from both employee and employer. Apart from it an employer also has to pay some administration charges. I explain you the various accounts of PF challan.
A/c No 1: PF contribution Account
A/c No 2: PF Admin account
A/c No 10: EPS account
A/c No 21: EDLIS account
A/c No 22: EDLIS admin account
PF admin charge = Employer has to pay 1.1 % of basic
EDLIS: Employer has to pay 0.5% of basic
EDLIS admin charge:Employer has to pay 0.01% of basic
Total additional percentage employer has to pay: 1.61% of basic
So employer has actually to pay 13.61 % of Basic and employee has to pay only 12% of basic.
Employees complete 12% goes to PF account while employer contributions' 8.33% goes to Pension fund and 3.67% goes to PF fund.
Hope it may clear to you and seniors please correct me if i am wrong.
Hemant Agarwal
From India, Faridabad
Dear arn2007, EDLI premium & administration charges are on EPF applicable salary, subject to individual salary ceiling of Rs. 6500/-. Abbas.P.S
From India, Bangalore
From India, Bangalore
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Epfo-circular-2 2-mar-2017-pf-e dli-admin-charg es-reduced-waiv ed-wef-1-apr-20 17.pdf