Hello dear, I am working in a manufacturing company and I have some confusion about the PF monthly challan. I know how to prepare the PF challan.
PF Account Details
- Account No. 1: 15.67%
- Account No. 2: 1.1% administration charges
- Account No. 10: 8.33% pension fund
- Account No. 21: 0.50% inspection charges
- Account No. 22: 0.01% or 0.005%
I have confusion regarding Account No. 22. How much percentage can we send to this account? I am waiting for your valuable reply.
Thanks & regards,
Mukesh Kamboj
EXECUTIVE (HR & ADMIN)
From India, Delhi
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3PF Account Details
- Account No. 1: 15.67%
- Account No. 2: 1.1% administration charges
- Account No. 10: 8.33% pension fund
- Account No. 21: 0.50% inspection charges
- Account No. 22: 0.01% or 0.005%
I have confusion regarding Account No. 22. How much percentage can we send to this account? I am waiting for your valuable reply.
Thanks & regards,
Mukesh Kamboj
EXECUTIVE (HR & ADMIN)
From India, Delhi
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it 0.01% for account number 22. but for filling the challan we must take care for a/c number 1 these points are as follows 1.employees p.f deduction from salary 2.the difference between 8.33% & 12%
From India, Pune
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From India, Pune
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Dear Mukesh, If your company is an exempted unit under EDLI, then the charges for A/C No. 22 would be 0.005%. For others it is 0.01% S.Sethupathy, Excellent HR Services, Erode.
From India, Selam
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From India, Selam
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I have one doubt, please clarify. When we are paying above Rs 6500 salary per month, what is the process for crediting to EPF and FPF accounts? For example, I am paying Rs 9500 per month. Please send account details.
Thank you.
From India, Hyderabad
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Thank you.
From India, Hyderabad
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EPF and EPS Calculations
The calculations are as follows:
- A/c No. 1 - EPF: 12% + 3.67% = 15.67% on Basic
- A/c No. 2 - EPF Admin Charges: 1.1% on Basic
- A/c No. 10 - EPS: 8.33% for Maximum 6500, i.e., 542
- A/c No. 21 - EDLI: 0.50% for Maximum 6500, i.e., 33
- A/c No. 22 - EDLI Admin Charges: 0.01%
If you are contributing for the entire 9500 taken as basic, the calculation will be as follows:
- Employer: 1140 for EPF and EPS + 33 for EDLI + 1 for EDLI admin.
- Employee: 1140 for EPF
Out of the 1140 of Employer, only 542 will be taken for EPS, and the rest will be accounted for in EPF, i.e., 598.
Now, the accounting will be as follows:
- A/c No. 1 - 1140 + 598 = 1738
- A/c No. 2 - 105
- A/c No. 10 - 542
- A/c No. 21 - 33
- A/c No. 22 - 1
I hope this is clear.
Regards,
S. Sethupathy
From India, Selam
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The calculations are as follows:
- A/c No. 1 - EPF: 12% + 3.67% = 15.67% on Basic
- A/c No. 2 - EPF Admin Charges: 1.1% on Basic
- A/c No. 10 - EPS: 8.33% for Maximum 6500, i.e., 542
- A/c No. 21 - EDLI: 0.50% for Maximum 6500, i.e., 33
- A/c No. 22 - EDLI Admin Charges: 0.01%
If you are contributing for the entire 9500 taken as basic, the calculation will be as follows:
- Employer: 1140 for EPF and EPS + 33 for EDLI + 1 for EDLI admin.
- Employee: 1140 for EPF
Out of the 1140 of Employer, only 542 will be taken for EPS, and the rest will be accounted for in EPF, i.e., 598.
Now, the accounting will be as follows:
- A/c No. 1 - 1140 + 598 = 1738
- A/c No. 2 - 105
- A/c No. 10 - 542
- A/c No. 21 - 33
- A/c No. 22 - 1
I hope this is clear.
Regards,
S. Sethupathy
From India, Selam
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PF Monthly Challan in Excel Format
Please find the PF Monthly Challan in Excel format with an automatic formula. Only fill in the basic amount; other calculations will be done automatically. I believe it will be helpful for all HR personnel.
I have more information about labor laws, monthly challans, and returns under the Factories Act. If someone needs any assistance, please feel free to contact me.
Regards,
Purushottam Dass Matta
[Email Removed For Privacy Reasons]
[Phone Number Removed For Privacy Reasons]
From India, Alwar
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Please find the PF Monthly Challan in Excel format with an automatic formula. Only fill in the basic amount; other calculations will be done automatically. I believe it will be helpful for all HR personnel.
I have more information about labor laws, monthly challans, and returns under the Factories Act. If someone needs any assistance, please feel free to contact me.
Regards,
Purushottam Dass Matta
[Email Removed For Privacy Reasons]
[Phone Number Removed For Privacy Reasons]
From India, Alwar
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Incase employer takes insurance from any other company then A/C 21 charges would be Nil and A/C 22 charges would be .005 % is applicable.
From India, Kota
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From India, Kota
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You have to fill up A/c 01 - 15.67% of EPS wages, A/c 02 - 1.11% of EPS wages, A/c 10 - 8.33% of EPS wages, A/c 21 - Zero, and A/c 22 - Zero. I am also filling as above.
Thanks,
Vinod Sharma
[Phone Number Removed For Privacy Reasons]
From India, Chandigarh
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Thanks,
Vinod Sharma
[Phone Number Removed For Privacy Reasons]
From India, Chandigarh
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