Hii to all
This is subhrat here,i am HR student.i want to know the pf contribution made by the employee & employer and also want to know whom contribution will be deducted from the basic salary
Regards
Subhrat
From India, Mumbai
2This is subhrat here,i am HR student.i want to know the pf contribution made by the employee & employer and also want to know whom contribution will be deducted from the basic salary
Regards
Subhrat
From India, Mumbai
Dear Subhrat ji,
You are a student of HR. I too. You are welcome to this forum with my response to your first query / post. Your query is bit confusing me, still I take it as pleasure to reply you.
PF contribution made by employee and employer is @12 % of the salary of employee. Salary means basic + DA + retaining allowance paid if any.
Salary below Rs.6500 pm, PF contribution is compulsory. Above Rs.6500 not compulsory if employee is not a member of PF before. Once employee is a member of PF, he has to remain as member of PF till last.
You need to read a lot. Reading should be your passion. You should first study the features of various labour laws. Purchase a book on Employer's Guide to Labour Laws by S R Samant. If you do not understand any provision, then ask this forum. You will get the answer.
From India, Mumbai
You are a student of HR. I too. You are welcome to this forum with my response to your first query / post. Your query is bit confusing me, still I take it as pleasure to reply you.
PF contribution made by employee and employer is @12 % of the salary of employee. Salary means basic + DA + retaining allowance paid if any.
Salary below Rs.6500 pm, PF contribution is compulsory. Above Rs.6500 not compulsory if employee is not a member of PF before. Once employee is a member of PF, he has to remain as member of PF till last.
You need to read a lot. Reading should be your passion. You should first study the features of various labour laws. Purchase a book on Employer's Guide to Labour Laws by S R Samant. If you do not understand any provision, then ask this forum. You will get the answer.
From India, Mumbai
Dear Subhrat ji,
I have not told you every thing. There are lot of things. If I tell you the entire PF law here in one post, it will not be digested. I have prescribed you the name of digester by S R Samant. Take the dose daily slowly slowly. In difficulties, to not hesitate to ask here.
From India, Mumbai
I have not told you every thing. There are lot of things. If I tell you the entire PF law here in one post, it will not be digested. I have prescribed you the name of digester by S R Samant. Take the dose daily slowly slowly. In difficulties, to not hesitate to ask here.
From India, Mumbai
Hi,
With respect to PF Contribution, an employee contribute 12% of his basic + DA though an employer pays 13.61% of employees basic + DA.
Please find below break up of employer contribution :-
1. Employee Provident Fund - 3.67%
2. Employee Pension Scheme - 8.33%
3. Employee Deposit Linked Insurance - 0.5%
4. EPF Administrative Charges - 1.1%
5. EDLIS Administrative Charges - 0.01%
I hope this satisfies you. Feel free to revert back in case of any query.
Garima Singh
From India, Belgaum
With respect to PF Contribution, an employee contribute 12% of his basic + DA though an employer pays 13.61% of employees basic + DA.
Please find below break up of employer contribution :-
1. Employee Provident Fund - 3.67%
2. Employee Pension Scheme - 8.33%
3. Employee Deposit Linked Insurance - 0.5%
4. EPF Administrative Charges - 1.1%
5. EDLIS Administrative Charges - 0.01%
I hope this satisfies you. Feel free to revert back in case of any query.
Garima Singh
From India, Belgaum
U mean the 12% will be deducted from the employee salary & the employer will pay extra13.61% for pf????
From India, Mumbai
From India, Mumbai
it means the total amount of pf that will deposite in the employee pf account is 12%+13.61%=25.61%??
From India, Mumbai
From India, Mumbai
No dear, Only Employer 12% and Employee 12% goes to PF and Pension Fund. Remaining 1.61% goes to Admin charges and Insurance (EDLI) Fund. The above said 24% only you can claim at the settlement.
From India, Secunderabad
From India, Secunderabad
Hi Subrat,
Good to know basic details, depends on employee contribution changes, Basic calculation 12% from BASIC+DA from employee and same as equal contribution from employer in such case of employee can be contribute 24% directly from there BASIC+DA.
All the best for your future
Thanks
Jai
From India, Chennai
Good to know basic details, depends on employee contribution changes, Basic calculation 12% from BASIC+DA from employee and same as equal contribution from employer in such case of employee can be contribute 24% directly from there BASIC+DA.
All the best for your future
Thanks
Jai
From India, Chennai
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf