Hi all,
We all know that the PF contributions of the employee and employer are 12% and 13.6% of the basic, respectively. I want to know what the reason is for this extra 1.6% paid by the employer.
One more question - what are the shares of each type of PF, i.e., EPF, PPF, and VPF from this total amount?
Thanks in advance.
From India, Mumbai
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We all know that the PF contributions of the employee and employer are 12% and 13.6% of the basic, respectively. I want to know what the reason is for this extra 1.6% paid by the employer.
One more question - what are the shares of each type of PF, i.e., EPF, PPF, and VPF from this total amount?
Thanks in advance.
From India, Mumbai
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Hi,
1.6% PF charges are not recoverable. The breakdown of the 1.6% distribution is as follows:
- Admin Charges: 1.10%
- Inspection Charges: 0.5%
- EDLI Charges: 0.01%
It is proven that these charges are imposed by the EPF Department instead of being divided between the Employee and Employer contributions.
Regards
From India, Delhi
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1.6% PF charges are not recoverable. The breakdown of the 1.6% distribution is as follows:
- Admin Charges: 1.10%
- Inspection Charges: 0.5%
- EDLI Charges: 0.01%
It is proven that these charges are imposed by the EPF Department instead of being divided between the Employee and Employer contributions.
Regards
From India, Delhi
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Dear friends,
The breakdown of the additional 1.61% is as follows:
1. Administration charges on EPF - 1.1%
2. Contribution to EDLI - 0.5%
3. Administration charges on EDLI - 0.01%
If the PF is managed by an exempted Trust, no administrative charges on PF will be remitted. Instead, an inspection charge of 0.18% will be paid. Similarly, in lieu of EDLI, an inspection charge of 0.005% will be remitted instead of administrative charges of 0.01%.
Abbas.P.S
From India, Bangalore
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530The breakdown of the additional 1.61% is as follows:
1. Administration charges on EPF - 1.1%
2. Contribution to EDLI - 0.5%
3. Administration charges on EDLI - 0.01%
If the PF is managed by an exempted Trust, no administrative charges on PF will be remitted. Instead, an inspection charge of 0.18% will be paid. Similarly, in lieu of EDLI, an inspection charge of 0.005% will be remitted instead of administrative charges of 0.01%.
Abbas.P.S
From India, Bangalore
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Employer-PF-res trict to wages of Rs 6500.pdf
PF contributions[8 7].docx