Understanding PF and Payroll Compliance in HR: Key Insights and Guidelines

Hi,

I am a new user here. Currently, I am working in a software company and looking for a change. I have experience as a generalist HR, but I am not involved in payroll activities. My total experience is around 2 years. In HR, it is required that a person should have knowledge in payroll, like PF.

Looking forward to your response.

Ripti

Hi,

Payroll contains many elements such as PF, ESI, PT, and TDS, among others. Do you want information about PF only, or all these components?

Hi!

I am a new member to this site and would like to know about PF, ESIC, PT, and TDS in detail. Can you help me out with the same?

Hi, I am also facing the same problem. I have over 2 years of HR experience in a generalist role, but I have never worked on payroll. Is experience in payroll mandatory for a good HR position? I am currently working with an MNC. Kindly advise.

Dear,

Regarding PF - Establishment employing more than 20 persons, the excluded employee is one whose basic pay at the relevant time is more than Rs. 6500/- per month. The statutory rules require a contribution of 12% of Basic wages+DA+ Cash Value of Food Concession+Retaining Allowance.

Out of the 12% of the Employer's contribution, 8.33% is to be remitted towards the 'Pension Fund' and 0.5% towards the Employees' Deposit Linked Insurance Scheme. The withdrawal period is 2 months from the date of resignation.

Forms & Returns:

1. Monthly deposition of PF amount & return - Form no. 5, 10, 12 & Challen
- Due date of Submission: 25th of the next month; payment by 15th of the next month.

2. Consolidated annual statement of P.F. members - Form No. 3A & 6A
- Due date: 30th April

3. Nomination Form - Form no. 2; immediately after joining

4. Transfer of P.F. - Form no. 13

5. Withdrawal - Form 10C & 19

I hope this information is sufficient.

Regards,
Mukesh