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can some 1 tell me how to do the breakups in salary slip?? min and max % of HRA and basic salary on salary slip?? its urgent i have an interview on Monday
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Hi Apsara

You have not clarified what exactly you want to know about P.F since it is a vast Act. however in brief the basic details are as under,;

1) it is applicable to all factories mentioned in Schedule I appnded to the Act employing 20 or more employees.

2) it is applicable to any establishment other than factories by virtue of notification of Centarl Government, if it employs 20 or more employees.

3) It is applicable to employees whose pay does not exceed Rs.6500/-p.m

4) pay for this purpose means basic wages+dearness +allowance + retaining allowance +cash value of any food concession.

5)an employee is eligible for P.F from the date of joining.

6)The rate of P.F contribution is 12% of the pay as defined above.Thereare some eceptions in which the rate of contribution is 10% of pay.

7) Employer and employee pay contribution equally. While employee's contribution is to be deducted from his wages, employer's contribution shall not be deducted from the wages of the employee.

8) Apart from this, the employer has to pay contributions under Insurance Scheme and administrative cahrges at the rate sprescribed.

8) an employee whose wage exceeds Rs.6500/-p.m is called an excluded employee.

9) Apart from regular employees of teh company, contract workers employed by the company will also be covered under P.F provided their apy is within the limit of Rs.6500/-p.m

10) there are many statutory compliances like filling various forms to be submitted to P.F authorities.

B.Saikumar

HR & labour Law Consultant

Chipinbiz Consultancy Pvt.ltd

Mumbai

022-28324234
can some 1 tell me how to do the breakups in salary slip?? min and max % of HRA and basic salary on salary slip??
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