Hi Dudes,
Plz suggest me. nw i am facing a prob with pf payment. on wat basis did pf amt should be deducted??? whether to pay on gross salary or on the basic + Da???? And is it compulsory to enroll every one in pf???? whether the company ve to contribute to the contract workers too???
Plz give me some ideas friends!!!!!!!!
From India, Coimbatore
10Plz suggest me. nw i am facing a prob with pf payment. on wat basis did pf amt should be deducted??? whether to pay on gross salary or on the basic + Da???? And is it compulsory to enroll every one in pf???? whether the company ve to contribute to the contract workers too???
Plz give me some ideas friends!!!!!!!!
From India, Coimbatore
Dear Brindha & Shraddha,
Also consider the below in calculating PF:
Basic = 9500
Case 1 - PF = 12% X 6500 ( Legally Correct) Case 2 - PF = 12% X 9500 ( Employee can chose)
In addition to 12%, we need to pay 1.61% towards administration charge as an employer.
Detailed break up is as below:
Employee Employer
A/c No 1: PF contribution Account 12 3.67
A/c No 2: PF Admin account 1.10
A/c No 10: EPS account 8.33
A/c No 21: EDLIS account 0.50
A/c No 22: EDLIS admin account 0.01
12 13.61
Truly Yours,
Kumar H P
From Hong Kong
Also consider the below in calculating PF:
Basic = 9500
Case 1 - PF = 12% X 6500 ( Legally Correct) Case 2 - PF = 12% X 9500 ( Employee can chose)
In addition to 12%, we need to pay 1.61% towards administration charge as an employer.
Detailed break up is as below:
Employee Employer
A/c No 1: PF contribution Account 12 3.67
A/c No 2: PF Admin account 1.10
A/c No 10: EPS account 8.33
A/c No 21: EDLIS account 0.50
A/c No 22: EDLIS admin account 0.01
12 13.61
Truly Yours,
Kumar H P
From Hong Kong
Dear Amol.
Kumar had explained you very clearly on PF deductions.
Employer PF part may vary to 12% to 13.61% on the basis of the size and domain of the Organisation.As employer had to pay admin Charges to
From India, Calcutta
Kumar had explained you very clearly on PF deductions.
Employer PF part may vary to 12% to 13.61% on the basis of the size and domain of the Organisation.As employer had to pay admin Charges to
From India, Calcutta
Well explanation Radhashyam and Kumar. I am sure this will help so many people here in this forum. Good luck!
From United Arab Emirates, Dubai
From United Arab Emirates, Dubai
dear dudes thank u so much for sharing ur knowledge. its really useful for me. bt nw i m facing a case that, pf says we ve to pay pf on the gross salary!!!!!!!!!!!!! so hw to face it legally????///
From India, Coimbatore
From India, Coimbatore
<P>Dear All,</P>
<P> </P>
<P> Employee contribution (12%) is not only includes basic but Dearness allowance, variable dearness allowance, retaining alloance, cash value of food concession & leave encashment also. But most of the organisations calculate only on the basic salary.</P>
From India, Suri
<P> </P>
<P> Employee contribution (12%) is not only includes basic but Dearness allowance, variable dearness allowance, retaining alloance, cash value of food concession & leave encashment also. But most of the organisations calculate only on the basic salary.</P>
From India, Suri
PF is always paid on Basic+DA
PF has to be mandatorily paid to all employees drawing basic salary less than Rs.6500, ie employee has to contribute 12% of basic+DA and employer has to pay 12% on actual basic + 1.61(admin charges) on actual basic.
However if employees are drawing Basic salary above Rs.6500 then the employer has an option to provide PF benifit only if he wishes to do so, ie the employer can just deny PF benifit to all employees who have basic above Rs.6500 and make no deduction from employee and also make no contribution, or he can allow PF deduction only from employee (12%) and opt not to pay his contribution of 12%, but he will have to pay 1.61% of actual basic towards admin charges, or he can aslo choose to deduct 12% from employee basic and also contribute his share of 12% either on the minimum basic Rs.6500 or on the actual basic of the employee along with 1.61% admin charge on actual baisc.
If u still dont get it or if you are still confused get back to me... good luck then
From India, Bangalore
PF has to be mandatorily paid to all employees drawing basic salary less than Rs.6500, ie employee has to contribute 12% of basic+DA and employer has to pay 12% on actual basic + 1.61(admin charges) on actual basic.
However if employees are drawing Basic salary above Rs.6500 then the employer has an option to provide PF benifit only if he wishes to do so, ie the employer can just deny PF benifit to all employees who have basic above Rs.6500 and make no deduction from employee and also make no contribution, or he can allow PF deduction only from employee (12%) and opt not to pay his contribution of 12%, but he will have to pay 1.61% of actual basic towards admin charges, or he can aslo choose to deduct 12% from employee basic and also contribute his share of 12% either on the minimum basic Rs.6500 or on the actual basic of the employee along with 1.61% admin charge on actual baisc.
If u still dont get it or if you are still confused get back to me... good luck then
From India, Bangalore
M.r kumar is correct follow him...P.f is caliculate on basic+d.a. if any doubts just verify P.L MALIK LABOUR LAWS
From India, Hyderabad
From India, Hyderabad
thanks alot dude.
nw plz make me clear hw to pay the EDLIS amt.till nw the company was paying as an exempted concern. nw i came to knw that the accounts department is paying the EDLIS amt. so nw hw shld i produce the monthly pf challan. i m so confused. plz suggest me!!!!!!!!!!!!!!!!
From India, Coimbatore
nw plz make me clear hw to pay the EDLIS amt.till nw the company was paying as an exempted concern. nw i came to knw that the accounts department is paying the EDLIS amt. so nw hw shld i produce the monthly pf challan. i m so confused. plz suggest me!!!!!!!!!!!!!!!!
From India, Coimbatore
thanks for your explanatinon dude. it helped me alot. and paved way 4 many doubts even. nw plz explain me hw to produce the challan. till nw our concern was paying the monthly pf amt as exempted company. nw i came to knw that from a/c they are paying the EDLIS amt on yearly basis. so nw hw shld i react for this situation. hw shld i submit the fourthcoming challans????
From India, Coimbatore
From India, Coimbatore
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