Dear All HRM Professionals,
I have been facing lot of confusion over this issue.
I want to know can the employer's contribution of PF Fund be deducted from the Annual CTC of the employee???????
is it a good practice???
In my company this the practice, now in the Month OF July, every one's salary has been increased wef. 1st Jan 2012, i was supposed to calculate the PF arrears, i have calculated it by referring to the previous year calculation of the same. Similarly i was also asked to deduct the Employer's contribution for PF,
when i have completed all the work as per the previous format, accounts is replying that i should have deducted it from the annual CTC.
As per the previous format, employer's Pf contribution appears in the deduction column.
Pl guide me about the correct and legal process, i m the only person handling HR dept.
Pl help me.
Regards,
Pallavi
I have been facing lot of confusion over this issue.
I want to know can the employer's contribution of PF Fund be deducted from the Annual CTC of the employee???????
is it a good practice???
In my company this the practice, now in the Month OF July, every one's salary has been increased wef. 1st Jan 2012, i was supposed to calculate the PF arrears, i have calculated it by referring to the previous year calculation of the same. Similarly i was also asked to deduct the Employer's contribution for PF,
when i have completed all the work as per the previous format, accounts is replying that i should have deducted it from the annual CTC.
As per the previous format, employer's Pf contribution appears in the deduction column.
Pl guide me about the correct and legal process, i m the only person handling HR dept.
Pl help me.
Regards,
Pallavi