3
THE PROVIDENT FUND IS TO BE DEDUCTED THE DATE FROM WHICH AN EMPLOYEE IS ENROLLED AS MEMBER OF THE PROVIDIENT FUND. AS PER RULES AS ON DATE APPLICABLE IMMEDIATELY ON JOINING AN EMPLOYEE BECOMES ELIGIBLE FOR BEING ENROLLED AS A MEMBER. THUS YOU HAAVE TO DEDUCT FROM THE IST DAY ITSELF.
DEEPAK THUKRAL
From India, Chandigarh
DEEPAK THUKRAL
From India, Chandigarh
Hi,
In case if your company is registered with PF Office then PF needs to be deducted from the day one of any Employee and needs to be remitted to the PF Office. PF needs to be calculated @12% of basic + leave Encashment if any.
Find below the breif gist of PF calcualtion
EE Contribution = 12 % of basic + Leave Encahsment if any
ER Contribution = 12% of above which is again bifurcated as under
8.33% is deposited in FPF (family pension fund) and the remaining out of 12% which comes to 3.67% is deposited in PF account.
From India, Pune
In case if your company is registered with PF Office then PF needs to be deducted from the day one of any Employee and needs to be remitted to the PF Office. PF needs to be calculated @12% of basic + leave Encashment if any.
Find below the breif gist of PF calcualtion
EE Contribution = 12 % of basic + Leave Encahsment if any
ER Contribution = 12% of above which is again bifurcated as under
8.33% is deposited in FPF (family pension fund) and the remaining out of 12% which comes to 3.67% is deposited in PF account.
From India, Pune
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