Pf Deductions [thread 208364] - Pdf Download

I want to know regarding PF deductions, on what basis the PF will be deducted.
what is the % of Employer & employee contribution .
Whether both are to be deducted from the salary or not.
Can any one help me out in this , as i have recently entered in to this HR field and i am getting confused while calculating salaries.
I want to learn complete details regardind PF.

Provident fund scheme:
You will be eligible to become a member of the provident fund scheme immediately on joining,as for the rules in force from time to time.the company contribution under this scheme is fixed at 12% of your basic with a matching contribution from you.you will be required to submit necessary enrolment/transfer forms to the hr department immediately upon your joining.

Dear HR,
Good Morning :-P!!!
Replies to your queries as follows :
1. PF is calculated on Basic Salary
2. Contribution is 12 % from both Employee & Employer Side
3. Employee Contribution will be deducted from Employee Salary and Employer contribution shall be bear by Employer.
4. PF is deposied to PF dept by Challans on Monthly Basis through Bank
If you want to know anything else you can be in my Touch

Hello Mr Kapil
In this how many percentage of employer money is divided for both PF and pension scheme. And this pension fund can be transferred to another organisation, when the employee resigns ? Is there no possibility to get the pension scheme money when employee resigns?

In CTC (cost to company) concept both Employer & employees Provident Fund contribution deducted from employee salary.
Good Afternoon,
In gross salary only employee contibution deducted from his salary Employer contribution shall be bear by Employer.
Provident fund calculate on @12% on the basic salary.
Regards,
Reshma Birmole

1. PF is calculated on your Basic Salary
2. Contribution is 12 % from both Employee & Employer Side.
3. Employee Contribution will be deducted from Employee Salary and Employer contribution shall be bear by Employer.
4. PF is deposied to PF dept by Challans on Monthly Basis through Bank

Employee contribution towards PF is 12% on basic + DA pay
Employer contribution is also 12% of basic + DA but it will be divided on two aspect
3.67% will go for PF
8.33% will go for pension fund.
Only employee contribution will be deducted from the salary.

And as far as when one leaves the organization is concerned.
Form 10C can be availed to withdraw pension
Form 19 to withdraw provident fund.
Form 13 can be used to transfer the PF from previous company to current company
Employee who wants to withdraw or transfer his or her PF or pension should submit the form after two months of resigning the organization and it will take 45 days for the PF office to process their PF and Pension amount
But however you have to complete a minimum period of six months in the organization to withdraw pension amount

1. PF is calculated on your Basic Salary
2. Contribution is 12 % from both Employee & Employer Side.
3. Employee Contribution will be deducted from Employee Salary and Employer contribution shall be bear by Employer.
4. PF is deposied to PF dept by Challans on Monthly Basis through Bank
__________________

Dear As per PF Act
1. PF Deducted (12%) from basic salary of the Employee
2. Principal Employer (Company) Add 12% of basic salary. Company Contribution (12%) devided in two Parts. Many comapanies saw this contribution in overall CTC.
2.1 8.33% in EPS (Emp Pension Scheme)
2.2 3.67% in EPF (Emp Provident Fund)
Note: 8.33% of basic salary subject to maximum of rs.541/- per month is deviated from Compamy's contribution to the EPS 1995.
Total contribution of pf is following for your Knowledge.
PAYMENT OF CONTRIBUTION
A/c – 1 EPF EMPLOYERS 12% + EMPLOYEES 3.67% = 15.67 %
A/c – 2 EPF ADMIN CHARGES 1.10%
A/c – 10 EPS EMPLOYEES 8.33 %
A/c – 21 EDLI 0.50 %
A/c – 22 EDLI ADMIN CHARGES 0.01%
TOTAL = 25.61%
Regards
Kalpesh Patel
Labour Law Consultant
Gujarat