Anpat
Respected Members,
I want to know the pf limits. I mean if a persons wages(BASIC+DA) is more than rs.6500/- does he eligible for PF?
What are the deductions by employee and employer too for PF , pension account , EDLI etc.
What is EDLI is basically meant for? When a person can withdraw amount of EDLI?

From India, Pune
mathangi@ramcides.com
Dear Sir,
Yes Anpat, Basic pay (Basic+DA) is more than 6500 that category employees also eligible for their PF contribution 12%,suppose if they like to contribute more than 12% also it is possible to pay from their salary.In this case employer will contribute Rs.780 (Voluntary restriction).
EDLI - Employment development linked insurance is the pay we take from LIC,
Once we covered under EDLI we will pay only A= Basic salary A/c No : 1
A/c No : 10 = 8.33%
A/c No : 2 = A*1.1%
A/c No : 21 = A*0.5%
A/c No : 22 = A*0.005%
Hope this is clear to you

From India, Madras
pinki gupta
1

If employees basic salary is more than Rs 6500 then pf will not be deduced. But if employees want deduction of pf, then employer will not contribute.
deductions are as follows: Employee Employer
A/C 1 Employee & Employer Contribution 12% 3.67%
A/C 2 Administration Charges - 1.10%
A/c 10 Employee Pension Scheme - 8.33%
A/C 21 Employee Deposit Linked Scheme - .50%
A/C 22 Inspection Charges - .01%
Total is 25.61 of employer and employee
* money will deposit in SBI Bank

From India, New Delhi
india.srinu
1

Hi Anpat,
Basic Pay(Basic+DA) is more than 6500 employees are also eligible for pf contribution 12%.
central govt announces wage ceiling 6500, why because it is the limit to employer pension amount to employees.
For example below 6500 basic pay employees got 8.33% of basic pay as pension amount every month, more than 6500 basic pay employees got only Rs. 541/- as pension amount, remaining amount goes to provident fund account.
EDLI is employee deposit linked insurance.
Employer contribute 0.5% of basic pay every month to EDLI.
This is useful only to employee nominee, not for employee.
If u have any doubts or suggestions mail me .
Regards,
Srinivas.

From India, Hyderabad
india.srinu
1

Hi Anpat,
Basic Pay(Basic+DA) is more than 6500 employees are also eligible for pf contribution 12%.
central govt announces wage ceiling 6500, why because it is the limit to employer pension amount to employees.
For example below 6500 basic pay employees got 8.33% of basic pay as pension amount every month, more than 6500 basic pay employees got only Rs. 541/- as pension amount, remaining amount goes to provident fund account.
EDLI is employee deposit linked insurance.
Employer contribute 0.5% of basic pay every month to EDLI.
This is useful only to employee nominee, not for employee.
If u have any doubts or suggestions mail me .
Regards,
Srinivas.

From India, Hyderabad
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