Dear All,
PF contribution should be from both the parties (employer & employee)
Is company liable to ask the employee to contribute for the whole amount from the employees pocket for EPF (In such case, Company is not paying any penny towards employee’s PF).
Please advise.
Thanks,
Arockia
From India, Madras
PF contribution should be from both the parties (employer & employee)
Is company liable to ask the employee to contribute for the whole amount from the employees pocket for EPF (In such case, Company is not paying any penny towards employee’s PF).
Please advise.
Thanks,
Arockia
From India, Madras
hi Arockia!
All Deductions and benifits are depends on the design of your salary. If salary is stated CTC (Cost to Complany), Contribution and deductions will be made from your CTC. or Salary is stated as Gross Salary then both parties have contribue their own parts.
hope you will get, what you wanted to know.
From India, New Delhi
9All Deductions and benifits are depends on the design of your salary. If salary is stated CTC (Cost to Complany), Contribution and deductions will be made from your CTC. or Salary is stated as Gross Salary then both parties have contribue their own parts.
hope you will get, what you wanted to know.
From India, New Delhi
Dear Ms. Arockia,
Employers' PF is contribution is a cost to the company, whereas Employees PF will always be deducted from his/her salary. This way of showing the emloyers contribution and showing in CTC is actually not a correct way by the statutory acts per se. Basically, the employers contribution to PF is deducted from the gross salary for which we get the net salary.
From India, Visakhapatnam
Employers' PF is contribution is a cost to the company, whereas Employees PF will always be deducted from his/her salary. This way of showing the emloyers contribution and showing in CTC is actually not a correct way by the statutory acts per se. Basically, the employers contribution to PF is deducted from the gross salary for which we get the net salary.
From India, Visakhapatnam
Hello Sharma & Sharmila
Thank you for your prompt response.
Sharma,
Please clarify more on "if salary is stated CTC (Cost to Company), Contribution and deductions will be made from your CTC".
(In such case the salary component states as CTC)
Thanks,
Arockia
From India, Madras
Thank you for your prompt response.
Sharma,
Please clarify more on "if salary is stated CTC (Cost to Company), Contribution and deductions will be made from your CTC".
(In such case the salary component states as CTC)
Thanks,
Arockia
From India, Madras
ARockia!
CTC means cost to company, where company count every single peny spent on its employee in terms of Basic salary+ DA, Allowances, PF & ESI Contribution, perks, incentive, bonus, gratuity, medical policy, etc.
expences for tea, meal, vehicle, mobile, telephone, electricity use by employees are not include in it.
hope you get it now.
From India, New Delhi
CTC means cost to company, where company count every single peny spent on its employee in terms of Basic salary+ DA, Allowances, PF & ESI Contribution, perks, incentive, bonus, gratuity, medical policy, etc.
expences for tea, meal, vehicle, mobile, telephone, electricity use by employees are not include in it.
hope you get it now.
From India, New Delhi
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 - Pension contribution is zero WHY.jpg
Analysis on SC's judgment on EPF Contribution on Spl.Allow.docx
EPF-Circular-da ted-23-May-2011 -Splitting-of-M inimum-Wages-fo r-the-Purpose-o f-PF-Contributi on-Not.pdf