No Tags Found!


shwetavi
3

Dear Members,
Recently I have joined a manufacturing company in the Mumbai location.
Company didn't deduct the Provident Fund since September 2014 ( when the Govt rule for PT changed)
Now the company wants to restart the PF process and calculate the entire amount
I have a few queries regarding the same. Kindly provide your inputs.
For calculating monthly PF, the formula shall be
(Basic Salary * Number of days present in a month ) * 12%
= ________________________________________
No of days in a month
1. What is the correct formula for calculating number of days present in a month?
2. Do we add weekly offs, Paid holiday , Paid leave, Casual Leave, Sick leave in calculating present days in a month?
Thank you

From India, Pune
gaurir
46

calculate it on the basic salary paid in previous months. collect that data and calculate 12% of the same and get it deposited.
From India, Mumbai
Shyam Agrawal
22

Whatever their formula, they have to contribute equal amount as their own share. If you feel it is less in any way, please revert . Admidding you from a back date is in your own interest. Please keep thing in mind always. Whenever you change job from one employer to another, always continue your current PF account with the new employer. Do not close one PF account and open another because every time you close one PF account and open a new one, you lose heavily in the form of pension contribution earned in the previous employment.
From India, Pune
tellsarvind@gmail.com
2

I would suggest you deduct on the basic salary* 12% . Don’t worry about the number of days leave an employee has availed.
From India, Madras
nitinplpl
Basic * 25.61% including employer share with administration charges
From India, Mumbai
shwetavi
3

Kindly correct me if I am wrong. PF Employers contribution is 13.61% till end of February 2015. Since March 2015 the Employers contribution is 13.36%.
From India, Pune
Jeewan Mittal
4

As per my undetstanding PF contribution from members part & employer part should be 12% of basic pay , doesn't matter how many working days are there.
Admin charges paid on submitting the PF contribution to be bear by company , not be deducted from the member.

From India, undefined
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.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.