Dear Sir/mam, Could you please tell me about the total funding scheme of the epf, which incliudes edli,pf,pension fund,govt. contribution. Ijudt want to know the contribution of each. Regrds Vikas
From India, Delhi
From India, Delhi
Generally PF contribution is 12% each from employee & employer. Out of the 12% of employer, 8.33% will go to Pension Fund and balance to PF. In addition the Central government will contribute 1.16% to pension fund.
Towards EDLI, employer has to contribute 0.5%. Besides employer has to pay administration charges @1.1% & 0.01% to PF and EDLI respectively. If they are not remitting to PF, Inspection charges @ 0.18 and 0.05 are payable.
Abbas.P.S
From India, Bangalore
517Towards EDLI, employer has to contribute 0.5%. Besides employer has to pay administration charges @1.1% & 0.01% to PF and EDLI respectively. If they are not remitting to PF, Inspection charges @ 0.18 and 0.05 are payable.
Abbas.P.S
From India, Bangalore
Dear Mr. Abbas thnk u very much for ur reply. I hve known total funding in epf is 25.61%, Could you plz provide me break up for the same. Regrds Vikas
From India, Delhi
From India, Delhi
If a PF Trust monitered by employer provide equal or better benefits, they will get exempted from remitting to PF. In such cases, the PF accounts will be operated by these Trusts. Accordingly no administration charges will be payable to Pf, instead an inspection charge @ 0.18% has to be remitted to PF.
Abbas.P.S
From India, Bangalore
Abbas.P.S
From India, Bangalore
If the contribution is 25.61, the split up will be 12 (employee)+12 (employer)+1.1 (admin charge)+0.5 (EDLI). But what about EDLI admin charge? Abbas.P.S
From India, Bangalore
From India, Bangalore
Dear Sir, If I withdraw the PF, what amount should I get? If anyone highlights this with example on this I will be grateful. Regards, Prdip Das
From India, Mumbai
From India, Mumbai
12(employee on total salary)+ 12(employer)+1.1(admin charges) +.01(inspection charges)+ .5(EDLI) = 25.61 .. tadda!!
1. 12% by employee of total salary, account no. 1
2. Out of employer's 12 %, 8.33 goes to pension fund account no. 10( that is calculated on total pension wages, i.e. maximum amount is Rs.6500) and rest 3.67% goes to provident fund account 1( i.e. actually equals to 12%from employee - 8.33% of that goes to pension fund)
3.Administration charges 1.1% in account no. 2
4. Inspection charges .01% in account no. 22
5. EDLIS 0.5% in account no. 21
I'll attach a file soon for better understanding
From India, Calcutta
1. 12% by employee of total salary, account no. 1
2. Out of employer's 12 %, 8.33 goes to pension fund account no. 10( that is calculated on total pension wages, i.e. maximum amount is Rs.6500) and rest 3.67% goes to provident fund account 1( i.e. actually equals to 12%from employee - 8.33% of that goes to pension fund)
3.Administration charges 1.1% in account no. 2
4. Inspection charges .01% in account no. 22
5. EDLIS 0.5% in account no. 21
I'll attach a file soon for better understanding
From India, Calcutta
Dear sir,
your above quote is true but this will need slightly modification, which i am going to modified hope u never mind.
A/C 1.= 12%(employee Share)+3.67% (employer share) of the EPF salary.
A/C2. = 1.1% of EPF salary.
A/C10= 8.33% of EPS salary (Deduction on pen. salary whose cealing is Rs.6500/- pm).
A/C 21= 0.5% of EDLI salary( Cealing is upto Rs. 6500/-)
A/C 22= 0.01% of EDLI Salary(Cealing is upto Rs 6500/-)
Thanks & Regards,
From,
Sumit Kumar Saxena
+91-9899669071
From India, Ghaziabad
your above quote is true but this will need slightly modification, which i am going to modified hope u never mind.
A/C 1.= 12%(employee Share)+3.67% (employer share) of the EPF salary.
A/C2. = 1.1% of EPF salary.
A/C10= 8.33% of EPS salary (Deduction on pen. salary whose cealing is Rs.6500/- pm).
A/C 21= 0.5% of EDLI salary( Cealing is upto Rs. 6500/-)
A/C 22= 0.01% of EDLI Salary(Cealing is upto Rs 6500/-)
Thanks & Regards,
From,
Sumit Kumar Saxena
+91-9899669071
From India, Ghaziabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
EPF ON LINE REGN. USER MANUAL.pdf