Hi All, I have to enquire about PF interest Rate. Can anyone please tell me whats the annual rate of interest for a PF account.
From India, Delhi
Acknowledge(0)
Amend(0)
1From India, Delhi
Acknowledge(0)Amend(0)
Hi,
Please refer to this link: [Employees' Provident Fund rate will not change in the financial year 2009-2010 | Tax Guru](http://www.taxguru.in/general-info/employees-provident-fund-rate-will-not-change-in-financial-year-2009-2010.html)
Muninder
From India, Hyderabad
Acknowledge(0)Amend(0)
Please refer to this link: [Employees' Provident Fund rate will not change in the financial year 2009-2010 | Tax Guru](http://www.taxguru.in/general-info/employees-provident-fund-rate-will-not-change-in-financial-year-2009-2010.html)
Muninder
From India, Hyderabad
Acknowledge(0)Amend(0)
EPF interest rate remains unchanged at 8.5% for 2009. Kindly refer to the link: [EPF interest rate remains unchanged at 8.5% - Savings News - Savings Centre - Personal Finance - The Economic Times](http://economictimes.indiatimes.com/personal-finance/savings-centre/savings-news/EPF-interest-rate-remains-unchanged-at-85/articleshow/4171156.cms).
Thanks,
GK
From India, Mumbai
Acknowledge(0)Amend(0)
Thanks,
GK
From India, Mumbai
Acknowledge(0)Amend(0)
Hi,
The PF contribution is 12% of the basic salary from both the employee and the employer. For the calculation, the maximum limit of basic is Rs. 6500/-. It means that even if the employee's basic salary is above Rs. 6500/-, the employer is liable to contribute only on Rs. 6500/-, which is Rs. 780. However, if an employee desires, he may voluntarily contribute more than 12%. Additionally, an employer has to pay some administration charges. I will explain the various accounts of the PF challan.
A/c No 1: PF Contribution Account A/c No 2: PF Admin Account A/c No 10: EPS Account A/c No 21: EDLIS Account A/c No 22: EDLIS Admin Account
PF admin charge = The employer has to pay 1.1% of the basic EDLIS: The employer has to pay 0.5% of the basic EDLIS admin charge: The employer has to pay 0.01% of the basic
The total additional percentage the employer has to pay is 1.61% of the basic. So, the employer actually has to pay 13.61% of the basic, and the employee has to pay only 12% of the basic.
The employee's complete 12% goes to the PF account for withdrawal, while the employer contributions' 8.33% goes to the Pension fund, and 3.67% goes to the PF fund.
Hope that helps! Regards, Shilpa
From India, Bangalore
Acknowledge(0)Amend(0)
The PF contribution is 12% of the basic salary from both the employee and the employer. For the calculation, the maximum limit of basic is Rs. 6500/-. It means that even if the employee's basic salary is above Rs. 6500/-, the employer is liable to contribute only on Rs. 6500/-, which is Rs. 780. However, if an employee desires, he may voluntarily contribute more than 12%. Additionally, an employer has to pay some administration charges. I will explain the various accounts of the PF challan.
A/c No 1: PF Contribution Account A/c No 2: PF Admin Account A/c No 10: EPS Account A/c No 21: EDLIS Account A/c No 22: EDLIS Admin Account
PF admin charge = The employer has to pay 1.1% of the basic EDLIS: The employer has to pay 0.5% of the basic EDLIS admin charge: The employer has to pay 0.01% of the basic
The total additional percentage the employer has to pay is 1.61% of the basic. So, the employer actually has to pay 13.61% of the basic, and the employee has to pay only 12% of the basic.
The employee's complete 12% goes to the PF account for withdrawal, while the employer contributions' 8.33% goes to the Pension fund, and 3.67% goes to the PF fund.
Hope that helps! Regards, Shilpa
From India, Bangalore
Acknowledge(0)Amend(0)
The gentle man ask you, what is the interest rate of PF Iprovident fund) account, not contribution of PF.
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Hi All, I have to enquire about PF interest Rate. Can anyone please tell me whats the annual rate of interest for a PF account.
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Hai, PF Annual interest may vary from year to year and that will be decided by the Central Government. This year i.e., for 2009 - 2010 the interest rate will be 8.5%. P. Karunakaran
From India, Madras
Acknowledge(0)Amend(0)
From India, Madras
Acknowledge(0)Amend(0)
Hi Shilpa!
Thanks for the information. I was asked this question in my interview, what are the administrative charges for the provident fund. I could not answer, but now I know after reading your post.
Thanks,
Ravi
From India, Pune
Acknowledge(0)Amend(0)
Thanks for the information. I was asked this question in my interview, what are the administrative charges for the provident fund. I could not answer, but now I know after reading your post.
Thanks,
Ravi
From India, Pune
Acknowledge(0)Amend(0)
Dear Friend, As per Annual Account Statement interest rate for the year of 2009-2010 is 8.5%. with regards naresh
From India, Nellore
Acknowledge(0)Amend(0)
From India, Nellore
Acknowledge(0)Amend(0)
Hi please tell me the bi frication of 12% PF employer contribution . pension is 8.33% Admin- 1.61 PF- 2.06 Am i right...
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Hi!
The breakdown of the 12% employer contribution is:
- 8.33% towards the pension fund
- 3.67% towards the provident fund
I believe the admin charges are not included in this 12% charge. That is why the employer contribution adds up to 13.11%, i.e., 8.33% + 3.67% + 1.10% + 0.01%.
From India, Pune
Acknowledge(0)Amend(0)
The breakdown of the 12% employer contribution is:
- 8.33% towards the pension fund
- 3.67% towards the provident fund
I believe the admin charges are not included in this 12% charge. That is why the employer contribution adds up to 13.11%, i.e., 8.33% + 3.67% + 1.10% + 0.01%.
From India, Pune
Acknowledge(0)Amend(0)
Regarding PF interest calculation, it is monthly compounding and rounds to the nearest rupee. Currently, it is 8.5% p.a.
However, I shall insert an Excel Sheet in this regard. You can extend the rows (as per your requirement) and enter the salary applicable for PF.
ABBAS.P.S, ITI LTD, PALAKKAD - 678 623 Ph. +91 9447 467 667
From India, Bangalore
Acknowledge(0)Amend(0)
However, I shall insert an Excel Sheet in this regard. You can extend the rows (as per your requirement) and enter the salary applicable for PF.
ABBAS.P.S, ITI LTD, PALAKKAD - 678 623 Ph. +91 9447 467 667
From India, Bangalore
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
PF Interest Rate List-1952-2015- Consolidated-13 .07.16.pdf