General Pf & Gratuity Rules - Xls Download

choclate10jan
Hi All ,
Can anyone help me out with the understanding of general PF deductions rules ; if we say that salary of an employee is on CTC basis than how much percentage of PF shall be deducted ?
Similarly , gratuity ; when we say that salary is on CTC basis than is it right to deduct Gratuity from the very first month of joining of a candidate ?
bijeshaggarwal
dear pf is always deducted on basic + da at a fixed percentage
and employer also contribute at that rate as for ex
ur salary is basic 5000 da 2000 hra 2000 otherallownace 3000 incentives 4000
ur pf will deducted on rs 5000 at rate 12% ie 600
and same amount will be contributed by ur employer
so ctc will be 5000+2000+2000+3000+4000+600
16600
choclate10jan
Thanks for the reply ,
But in some companies the employer says that in CTC PF rate is 24 % of basic , means both employer & employee contribution will be deducted .
Is it right to deduct both side PF ?
Regards
ruchika_g1
CTC is the cost to company so it does not include any deductions made on behalf of the employee...like employee contribution to PF, TDS,etc. So basically to add clarity to the structure some companies mention 24% PF contributions...to avoid confusion later.
riyarodeshia
Can any one tell me hw we devide salary into the structure of
basic
hra
da
convence
etc...
is there any hardcore rule or we can set all these as per company's preference....
vishwa2
Hi it is company specific.
i am uploading one of the file available in this forum for your reference.
rgds
vishwanath
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Arti_Chopra
Dear Mr. Vishwanath,
I study the salary sheet send by u pls. explain me wht is PT. Why u take uniform allowance Rs.1000/- & medical allowance 650/-
Regards,
Arti Chopra
Snigdha Manasa
professional Tax
Salary Tax. Rs
5001-6000 60
6001-10000 80
10001-15000 100
15001-20000 150
20000 ABOVE 200
nusrat.madni
Dear Manasa,
but i Havent Listen abot Professional Tax, In Salary Structure,
is it compulsory or optional for the company.
jagspatiala
hiiii...
i m an accountant. i want to know that is it mandatory if a eomployer deduct PFthan he should also deduct the ESI
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