Industrial Relations And Labour Laws
Pragnaa HR Compliance Services
Pragnaa Shree Venture India Pvt. Ltd
Hr And Ir
Leadership & Motivation
Sr Manager Hr
From India, Kannur
Employee can contribute towards voluntary PF up to 88% of his BASIC, apart from the normal statutory deductions of 12% of Basic, it is not for the Gross salary.
Employee can't contribute his / her full salary to the PF as per the clause in PoW Act.
In the Payment of Wages Act, the overall deductions should not be more than 50% from the salary. Hence, you also verify the overall deductions amount of the salary if employee wants to contribute.
It is not required that employer has to contribute the equal % of employee's contribution. Employer can contribute only the required statutory % of 12.
From India, Chennai
Wages under EPF act is Basic wages +DA+ food allowance.
On the above wages one can contribute EPF 12% and same matching amount shall be Contributed by Employer.
In case of VPF up to 20% on PF wages can be contributed and Employer need not pay any contribution on VPF amount except inspection and Administrative Charges.
From India, Hyderabad
2. 12% is mandatory from both employee and employer.
3. Voluntary PF (VPF) from the employee is more that 12% and can be till 100% of the Basic (PF 12% + VPF 88%)
4. The employer is mandated to match 12% only - on VPF there is no matching (unless the Employer wants to match it!)
From India, Coimbatore
our company facing the EPF pending amount of Rs.near By 4 lakhs this amount shown in form 23 forwarding letter copy , the PF Accounts officer said that you have pay immediately i discuss the same his given oral statement for pending found in EPF Office record beginning 2004-05 to till date.
I asking how i pay this amount?
he told orally you must pay this amount I cannot accept the any new claim settlement.
in the regards kindly give me suggestion.
From India, Madras
As per my concerned the PF pending amounts are not be shown in Form 23 Covering Letters. Only the adjusting amounts are shown in Form 23 Covering letter. I think there may be wrong calculation or wrong workings made while submitting the Annual Returns. Or excess PF contribution might have been given for the settlements. Get the clarification from the PF Organisation.
From India, Mumbai