LWF/pt/pf/gratuity - what is the contribution in Labour Welfare Fund from employer & employee?

nitinrd
I have some questions, those are-
1. what is the contribution in labour Welfare Fund from employer & employee? When , where & how contribution have to be submitted?
2. what are the slabs of Professional Tax?
3 what is total contribution of Employer in PF?
4. exact formula of Gratuity.
r.shanti
Dear Mr. Nitin,
Goodmorning
for your query i can answer for 2 only
1. The percentage of employer contribution of pf is 12% of the basic ceiling wages @Rs.6500/-p.m.
2. For gratuity calculation the formula is
Basic/26*15*no of years served.
With best wishes,
R Shanti
ch.janardhanreddy
Hi................
P.tax Slabs,
0 to 5000------------0/-
5001 to 6000---------60/-
6001 to 10000--------80/-
10001 to 15000-------100/-
15001 to 20000-------150/-
Above 20001---------200/-
Regards.
janardhan
Madhu.T.K
Labour Welfare Fund and Profession Tax are state subjects and therefore, they may vary from state to state. In the case of Labour Welfare fund, there are a lot of welfare fund and the rates applicable to each fund depending upon the industry will change.
For calculation of EPF contribution not only basic salary but dearness allowance is also to be taken into account.
Similarly, gratuity is also calculated on the last drawn salary which should include dearness allowance paid.
No amount should be deducted from the salary payable to an employee towards gratuity since it is a payment solely by the employer.
Regards,
Madhu.T.K
dinesh_49
Dear Mr. Nitin
hello
employees contribution is 12 % in p.f. of basic salary rs. 6500/-
last Basic of employee/26*15*no of years served.
formula for gratuity
thanks
rds
Dinesh
palugulla.raghuram@gamil.com
Dear Mr Nitin,
As per your mail request PT slabs differs state by state,where as PF 12% on basic 6500 after this PF is optional and Gratuty existing BASIC at the time of leaving (basic/26*15*no of years),ESI Employer 4.75 Employee 1.75.
RAGHU
Narottam Raj
Dear sir,
I want to know that whats benefit is to be taken by LWF as a employee.If every month lwf in deduct from my salary can it be return?
Diwaker Pandey
Dear All,
I want to know-
1. what is the benefit of Professional tax.
2. Is professional tax is applicable where is LWF.
Madhu.T.K
Profession Tax and labour welfare fund are two different things. The former one is a tax on income/ revenue which an employee or professional should pay to the local administration ( Panchayat/ Municipality/ Corporation) and being a tax we can not expect any direct benefit out of it besides the development activities that the local administration does for the area and the direct deduction of the amount of profession tax paid from the income of the employee/ professional while computing his income tax, whereas welfare fund is a contribution towards a fund for the benefit of workers contributing to it. Since the contribution is a small amount, the benefits will also be limited. Still there are schemes for scholarship to children of the members, medical aid and also in some funds like that of Kerala Shops and Commercial Establishment Workers Welfare Fund, payment of pension, payment of maternity benefits etc are also envisaged.
Madhu.T.K
simmasrinu
Dear reddy,
1.PT slabs were changed by govt. of Andhra pradesh from 04/2013 (state to state PT is change)
slabs are
1.15000 to 20000 Rs150
2.20001 above Rs200
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