Dear Friends,
I want to gain knowledge on Provident Fund. I would request you to please help me with the following questions.
1.What is employee\'s share and what is employer\'s share.
2.PF is calculated on which component of salary.
3.What is a provident Fund challan and when do we have to submit these challans.
4.Is provident fund taxable.
Which forms do we need to fill for provident fund.
a) New Joinee Form
b) If the employee had PF account in his previous firm
c)PF Withdrawl Form.
Any additional information.
14th October 2015 From India, Delhi
1. Employee share- 12% (A/C-1)
Employer Share - 13.61% (A/C-1 = 3.67%,A/C-2 =1.10% ,A/C-10=8.33%,A/C- 21=.050%,A/C-22=0.01%)
2. PF CALCULATE ON BASIC SALARY
3. GO TO THE PF SITE......THERE YOU CAN SEE THE DEMO OF ECR (ELECTRONIC CHALLAN CUM RETURN).prepare ECR then Upload and wait for approval.
you have to submit ECR through Employer E sewa........if ECR amount is less than 1 lakh then you can submit the challan through manual or Online.but if amount is one lakh or more than that Online payment will be done.
4. No PF is not taxable.PF employee contribution amount is exemption under income tax.
5. Form-11 use for declaration that employee was the member of PF in previous organization or not and Form- 2 (Rev) use for Nomination under PF act.
6. FORM - 19 & 10C use for withdrawal......Form-13 use for Transfer and Form-31 use for Application for advance withdrawal.
14th October 2015 From India, Faridabad
#Anonymous
When and why do we need to fill challan?
4th December 2017 From India, Delhi
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