Dear friends, please find the right answer regarding employees' share. Instead of deducting it from the salary, it would be better if only the employer's share is withdrawn later. Why are all these transactions made?
From India, Bangalore
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From India, Bangalore
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Dear Shyam,
It is the law of the land, and you cannot question the law of the land. Tomorrow, you will have to pay income tax. Can you explain why courts award death sentences for murder? Please refrain from asking such questions.
From India, Delhi
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174It is the law of the land, and you cannot question the law of the land. Tomorrow, you will have to pay income tax. Can you explain why courts award death sentences for murder? Please refrain from asking such questions.
From India, Delhi
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It is a Social Security measure that can help the employee after employment. We can't question the act. Every act is meant for the protection, benefit, and security of an employee.
I am sorry to say that we can't question in this manner.
Prasad
From India, Pune
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I am sorry to say that we can't question in this manner.
Prasad
From India, Pune
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Understanding Provident Fund Contributions
The answer to why there is a provident fund contribution from employees lies in the word 'provident'. The meaning of the word is: provident [ˈprɒvɪdənt] adj 1. providing for future needs 2. exercising foresight in the management of one's affairs or resources 3. characterized by or proceeding from foresight [from Latin prōvidens foreseeing, from prōvidēre to provide]. Thus, it is for the future of the employee. He has to help himself so that others (employer) help him. Even God helps only those who help themselves!
Secondly, savings is an important aspect of the national economy. From that point of view, the employee should make the contribution.
From India, Madras
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The answer to why there is a provident fund contribution from employees lies in the word 'provident'. The meaning of the word is: provident [ˈprɒvɪdənt] adj 1. providing for future needs 2. exercising foresight in the management of one's affairs or resources 3. characterized by or proceeding from foresight [from Latin prōvidens foreseeing, from prōvidēre to provide]. Thus, it is for the future of the employee. He has to help himself so that others (employer) help him. Even God helps only those who help themselves!
Secondly, savings is an important aspect of the national economy. From that point of view, the employee should make the contribution.
From India, Madras
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Dear friends, thanks for your valuable replies. I don't think it's an irrelevant question because people need to know what they are being paid for and how they can utilize it. It is the responsibility of salaried individuals to understand the details of their salary. If this information were irrelevant, why would the interview panel of a top reputable company inquire about it?
Please write your thoughts on this.
From India, Bangalore
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Please write your thoughts on this.
From India, Bangalore
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Provident Fund - Excluded Employee - Definition.pdf