EDLI Admin Charge - PF
CiteHRCiteHR
 
HOME RISE NEW TEAM →|

arn2007 Started The Discussion:
EDLI Admin charge of 0.005% is applicable to which amount - total paid wage or PF wage ie. 12% of basic
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
Dear arn2007, EDLI premium & administration charges are on EPF applicable salary, subject to individual salary ceiling of Rs. 6500/-. Abbas.P.S
Dear Mr. Hament.

I have heared, if we have taken EDLI policy from LIC then EDLI Admin Charge is 0.005%, if we have paid edli amount directly to epf deptt. then edli admin charge to pay 0.01% of basic

Plz. update



 
 
 
 





Found This Useful? +Vote Up This 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.

Cite.Co helps people come together to solve each other's problems on all aspects of professional life.
Share This Discussion:


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