Dear All,
Hi! everybody
I too, would like to clarify few of the points related to PF:-
1)For those employees whose basic salary is more than Rs 6500, few companies state way extempt them from PF, what should be the legal way of the same. Though he would have opt for PF but he is now not getting the same.
2) Secondly , now any employees whose basic is more than Rs 6500, (for instance Rs 10000) what should be his deduction. Please find below the deduction and state which is correct--
Basic -- Rs 10000
A) PF deducted from the employee:- Rs 1200/-
PF deducted from the employer:- Rs 1200/-of which Rs 541 would go to pension and the remaining to his account (1200-541)
OR
A) PF deducted from the employee:- Rs 780/-
PF deducted from the employer:- Rs 780/-
Please clarify.
3) As per the act what I know is that 1.61% of the PF charges is to be borne by the employer. Should the same % be taken into account while calculating the CTC or not .
4) If any employee whose basic is above Rs 6500/- is there any legal binding that the company will deduct only Rs 780/- from his salary as Pf deduction and not the original binding.
Please do reply soon,
Daya
Hi! everybody
I too, would like to clarify few of the points related to PF:-
1)For those employees whose basic salary is more than Rs 6500, few companies state way extempt them from PF, what should be the legal way of the same. Though he would have opt for PF but he is now not getting the same.
2) Secondly , now any employees whose basic is more than Rs 6500, (for instance Rs 10000) what should be his deduction. Please find below the deduction and state which is correct--
Basic -- Rs 10000
A) PF deducted from the employee:- Rs 1200/-
PF deducted from the employer:- Rs 1200/-of which Rs 541 would go to pension and the remaining to his account (1200-541)
OR
A) PF deducted from the employee:- Rs 780/-
PF deducted from the employer:- Rs 780/-
Please clarify.
3) As per the act what I know is that 1.61% of the PF charges is to be borne by the employer. Should the same % be taken into account while calculating the CTC or not .
4) If any employee whose basic is above Rs 6500/- is there any legal binding that the company will deduct only Rs 780/- from his salary as Pf deduction and not the original binding.
Please do reply soon,
Daya