Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Dear Sir I would like to know about the EPF benefits on which an eligible employee can take benefits for itself. In our company EPF deduction is done on the very fake basis they. Example, if any employee has 100% present in that month, then they deducts the EPF as per their rules - they include only 10 days, 15 days like this so due to this employee could not take the proper benefits of ESI and EPF and that is right of Employee.
Please suggest me that is this law says, is present can amend for their own benefits so that employer has to give less Contribution.

From India, Bagpat
Employees’ Provident Fund is a small saving scheme that is offered to Indian workers as well as international workers through the EPFO of India. The scheme allows accumulation of funds as well as accrual of interest on the accumulated funds. The funds thus collected are made of contributions partly from employees and partly from their employers.
Contributions from employees as well as employers add to the EPF. However, unlike what is commonly thought to be, the entire portion of contribution from an employer doesn’t go exclusively towards the Employees Provident Fund.
Provident Fund Contribution from both employee & employer
Contribution by an employee: Contribution towards EPF is deducted from employee’s salary i.e., 12% of basic salary and PF applicable allowances of the employee
Contribution by an employer: The contribution made by the employer is 13% of the basic salary and PF applicable allowances of the employee. However this 13% is further subdivided into:
3.67% of contribution towards Employees’ Provident Fund
0.5% of contribution towards EPF Administration Charges
0.5% of contribution towards EDLI Administration Charges
8.33% of contribution towards Employees’ Pension Scheme
Provident Fund scheme will be calculated upto INR 15,000 of the basic salary and PF applicable allowances. If the basic is above INR 15,000 PF will be constant. The employee with a monthly salary less than or equal to INR 15,000 will have to contribute mandatory towards EPF

From India
Please Login To Add Reply

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™