EDLI Admin charge of 0.005% is applicable to which amount - total paid wage or PF wage ie. 12% of basic
From India, Mumbai
Acknowledge(0)
Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
EDLI Admin charge of 0.005% is wrong; in fact, it is 0.5% of basic. The PF contribution is 12% of Basic salary from both the employee and the employer. Apart from this, an employer also has to pay some administration charges. Let me 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 = Employer has to pay 1.1% of basic.
EDLIS: Employer has to pay 0.5% of basic.
EDLIS admin charge: Employer has to pay 0.01% of basic.
Total additional percentage employer has to pay: 1.61% of basic.
So, the employer actually has to pay 13.61% of Basic, and the employee has to pay only 12% of basic.
Employees' complete 12% goes to PF account, while employer contributions' 8.33% goes to the Pension fund and 3.67% goes to the PF fund.
I hope this clarifies things for you. Seniors, please correct me if I am wrong.
Hemant Agarwal
Email: hemant.dev@gmail.com
From India, Faridabad
Acknowledge(1)
Amend(0)
12A/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 = Employer has to pay 1.1% of basic.
EDLIS: Employer has to pay 0.5% of basic.
EDLIS admin charge: Employer has to pay 0.01% of basic.
Total additional percentage employer has to pay: 1.61% of basic.
So, the employer actually has to pay 13.61% of Basic, and the employee has to pay only 12% of basic.
Employees' complete 12% goes to PF account, while employer contributions' 8.33% goes to the Pension fund and 3.67% goes to the PF fund.
I hope this clarifies things for you. Seniors, please correct me if I am wrong.
Hemant Agarwal
Email: hemant.dev@gmail.com
From India, Faridabad
Acknowledge(1)Amend(0)
Dear arn2007, EDLI premium & administration charges are on EPF applicable salary, subject to individual salary ceiling of Rs. 6500/-. Abbas.P.S
From India, Bangalore
Acknowledge(0)Amend(0)
From India, Bangalore
Acknowledge(0)Amend(0)
I have heard that if we have taken the EDLI policy from LIC, then the EDLI Admin Charge is 0.005%. However, if we have paid the EDLI amount directly to the EPF department, then the EDLI admin charge to pay is 0.01% of the basic amount. Please update me on this.
Thank you.
From India, Delhi
Acknowledge(0)Amend(0)
Thank you.
From India, Delhi
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.
Comparitive analysis of old and amended provisions- PF, EPF and EDLI.pdf