Dear Team, I want to know how much is employee and employer’s pf contribution?
From India, Mumbai

Get Empowered With Critical Leadership Skills That Drive Change →
Promoted: XLRI Leadership & Change Management
Hi David,

Minimum salary limits: Employees with monthly salaries less than or equal to INR 15,000 now have to contribute mandatorily towards EPF. PF amount is calculated for the basic + DA and other allowances (except HRA).

Contribution of employees' PF will be calculated @ as 12% of the basic salary viz-

Provident Fund is to be calculated as follows e.g.:

If Basic salary is Rs. 25000/Month-PF Contribution of Employees' is restricted upto Rs.15,000, then 12% of 15,000: ₹1,800.00

Similarly, Employer has to contribute the matching contribution @ of 12% of 15,000: ₹1,800.00 (This 12% Employer contribution will be divided into 2 parts i.e. 8.33% Rs.1249.5 towards Employees' Pension Scheme (EPS) and rest 3.67% (Rs.550.50) towards Employee Provident fund. (Employer also pays other charges i.e.,Plus /Add:0.5% towards EPF Administration Charges + 0.5% EDLI Admin.charges directly to EPF office, which is not remitted to employees' a/c).

From India, Bangalore

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply →

About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2021 CiteHR.Comô

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server