Sumitk.saxena
Service/manager-hr
+2 Others

Thread Started by #anjanatanay@gmail.com

Dear All, Can anyone tell me about PF’s interest rate i.e. on pension, continuation etc. Regards Anjana
28th January 2014 From India, Bhubaneswar
Dear Anjana
Greetings for the day,
First of all you should know the 12% contribution is from employee side & 12% contribution is from employer side excluding admistrative charges, the bifurcation of 24 % is 12%+3.67%= 15.67% should be epf on which intrest of 8.75% is provided, and the rest 8.33% should be eps on which no intrest is provide but contribution of 1.16% was provided by epfo.
Thanks & Regards,
From,
sumit kumar saxena
28th January 2014 From India, Ghaziabad
Dear Sumit, Thank you, But is the 8.75% is constant is it apply from the day one of contribution and what is that 1.16% epfo contribution. Regards Anjana
29th January 2014 From India, Bhubaneswar
Interest rates are declared every year by EPFO board & may vary from year to year.
30th January 2014 From India, Thane
Dear Mr. Sumit Saxena, Thank you very much for this valuable information. Its very clear and comprehensive . Easy to understand. With best regards Rani Payaal
30th January 2014 From India, Delhi
Dear Sumit, What about the 1.16%. Please clarify it . Regards Anjana
31st January 2014 From India, Bhubaneswar
Dear Anjana,
Greetings for the day,
The Central Government shall also contribute at the rate of 1.16 per cent of the pay of the members of the Employees'
Pension Scheme and credit the contribution to the Employees' Pension Fund .
Thanks &Regards,
From,
Sumit Kumar Saxena
6th February 2014 From India, Ghaziabad
Dear Sumit,
Greetings of the day
First of all I would like to say Thank you for your valuable contribution. Its now clear to my concept that the central govt. pay that 1.16% to EPS fund of every employee, One more thing I would like to know that our company is calculating PF on the basis of BASIC+ HRA but the ACT says it should be on BASIC+DA, can it be possible if so how?
Regards
Anjana
9th February 2014 From India, Bhubaneswar
Dear Anjana,
Greetings for the day,
It is true that calculation of epf is done on basic+da+food conc.(if any), and the basic+da should not be less than the minimum wages defind by the state govt. time to time. So rather to consider HRA consider DA.
Thanks & Regards,
From,
Sumit Kumar Saxena
10th February 2014 From India, Ghaziabad
Dear Sumit Thnx but I want to know whether it is possible or not BASIC+HRA Regards Anjana
10th February 2014 From India, Bhubaneswar
Dear Sumit My Basic+HRA=8375 but company considering and deducting 12% on 6500 p/m Regards Anjana
12th February 2014 From India, Bhubaneswar
Dear Anjana, Greetings for the day, Its fine if deduction is on the ceiling then its ok, which is Rs. 6500/- thanks & regards, From, Sumit Kumar Saxena
12th February 2014 From India, Ghaziabad
Dear Sumit Thnx but is it as per statute BASIC+HRA & also i have open a discussion on gratuity plz share ur views. Regards Anjana
13th February 2014 From India, Bhubaneswar
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