PF Deduction From Salary - Dearness Allowance
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PF Deduction From Salary - Dearness Allowance

pujarikavita Started The Discussion:

I want to know about Pf Deductions from salary: Accounts, Dates, %s, etc. Also related forms in PF Act.

Amitmhrm - Member Since: Feb 2007
Dear Kavita.. Infact not getting your exact requirements.. Anyways to know more about PF and some download forms may go through the given below link.. http://www.epfindia.com Regards, Amit Seth.

Raj Meritech - Member Since: Sep 2007
1. PF Percentage:-
12% From Employee (Basic)
13.61% Employeer (Basic)
2. Account No. on PF Challan:-
A/C No. 1 - 3.67% Employer Share and 12% Employee Share (PF Account)
A/C No. 2 - 1.10% Employer Share (Admn. Charges)
A/C No. 10- 8.33% Employer Share (Pention Scheme)
A/C No. 21- 0.50% Employer Share (Employee Deposit Link Insurance)
A/C No. 22- 0.01% Employer Share (EDLI Ins. Charges.)

3. PF Challan Should be deposit before 15th of every month but grace period is 5 days.
4. PF Monthly return should be deposit before 25th of every month.

I think this will help you.

Regards,

Raj

vishalhr_bari - Member Since: Nov 2006
hi!

Thank you for the details about the PF deduction.

Pls provide me the complete details of deduction with each a/c and deduction on what i.e. on basic or cross salary. (particularly for all account no.)

Narsingh Shukla - Member Since: Oct 2006
Hi,

What Raj telling is absolutely correct. PF always be contributed on (Basic + DA) as per Act. There are 05 accounts as Raj stated in which the contribution is deposited. PF Deduction of an employee is 12% from his/her (Basic + Da), however, it is contributed from employer side as 13.61% - (12% for employee account + 1.61% for Admin, EDLI etc.)

Hope this answer is OK for you.

Regards

Raj Meritech - Member Since: Sep 2007
Basic Wages:
"Basic Wages" means all emoluments which are earned by employee while on duty or on leave or holiday with wages in either case in accordance with the terms of the contract of employment and witch are paid or payable in cash, but dose not include:-

The cash value of any food concession;

Any dearness allowance (that is to say, all cash payment by whatever name called paid to an employee on account of a rise in the cost of living), house rent allowance, overtime allowance, bonus, commission or any other allowance payable to the employee in respect of employment or of work done in such employment.

Any present made by the employer.

vkpatil7 - Member Since: Sep 2008
hi all, i want know the pf forms no and format of form, esic calaculation formula, wage formula and what is mandatory deuduction in salary slip with all baisc salary brackets pls help me

ankita.sh86@gmail.com - Member Since: Feb 2013
hi plz explain me 13.61% of employer PF deduction. Is the PF deduction % is fixed for every level of employee? and for every company it is same?

Sheetal26 - Member Since: Dec 2011
Dear All,
Good Afternoon,

Can anyone share the details where we will get exact Idea of contribution towards Pf through employer & employees side.

as in my establishment we have set the PF capping from employers as well as employee side i.e.
780 rs from employee side ( 12% on 6500 /- )
885 Rs. From employers side ( 13.61 % on 6500 )

where as we are planning to change the Pf contribution for employee from caping of 6500 to actual of there basic salary.

kindly confirm if this can be done,
if yes what is the procedure and any documents has been published in this regards through PF

Looking forward from you

Have great day .

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