hi guys, just wanted to check can there be 2 deductions of PF through ur salary and only one been shown in ur salary? in my salary slip there is 1 deduction only.
From India, Delhi
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From India, Delhi
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Hi guys,
I just wanted to check, can there be two deductions of PF in your salary with only one being shown? My salary slip shows only one deduction, but my HR says there are always two deductions of the same amount, and only one reflects in our salary slip.
From India, Delhi
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I just wanted to check, can there be two deductions of PF in your salary with only one being shown? My salary slip shows only one deduction, but my HR says there are always two deductions of the same amount, and only one reflects in our salary slip.
From India, Delhi
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Dear friend,
You mean the two deductions as employee and employer contributions to PF? If so, the employee contribution will only be shown in your salary slip. The employer contribution is not deducted from your salary as it is contributed by the employer.
Abbas.P.S
From India, Bangalore
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530You mean the two deductions as employee and employer contributions to PF? If so, the employee contribution will only be shown in your salary slip. The employer contribution is not deducted from your salary as it is contributed by the employer.
Abbas.P.S
From India, Bangalore
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Hello,
He is right because the employer's contribution to PF is never shown on the salary slip or payslip. You can check the employer's contribution to PF in your PF member account via the UAN portal or Member Portal.
Regards,
Dolly Batavia
From India, Ahmadabad
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He is right because the employer's contribution to PF is never shown on the salary slip or payslip. You can check the employer's contribution to PF in your PF member account via the UAN portal or Member Portal.
Regards,
Dolly Batavia
From India, Ahmadabad
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Dear Sumit, You have not mentioned the amount of the two PF deductions in your payslips. There are three main components (from the employer's point of view) in PF deduction and deposit: (1) Employee EPF Contribution (12%), (2) Employer EPF Contribution (12%), and (3) EPF Admin Charges (EDLI, Admin, etc. - 1.36%).
When the employer deposits the EPF, all the above amounts are deposited under different heads. Some companies also deduct the third type of deductions from the employee's salary (which should be deposited by the employer from their pocket). In some cases, it is noticed that ADMIN CHARGES are also deducted from the employee's salary.
If this is the case, as I am assuming, you can ask your employer not to do so. Being covered under EPFO, it is the responsibility of the employer to deposit the admin charges from the company account.
If you need more clarification, please share your salary figures and the amount of double deductions. The forum members will try their best to clarify the same.
From India, Delhi
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When the employer deposits the EPF, all the above amounts are deposited under different heads. Some companies also deduct the third type of deductions from the employee's salary (which should be deposited by the employer from their pocket). In some cases, it is noticed that ADMIN CHARGES are also deducted from the employee's salary.
If this is the case, as I am assuming, you can ask your employer not to do so. Being covered under EPFO, it is the responsibility of the employer to deposit the admin charges from the company account.
If you need more clarification, please share your salary figures and the amount of double deductions. The forum members will try their best to clarify the same.
From India, Delhi
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Dear Sumeet,
Nowadays, companies are deducting PF from your CTC/Package. The employee contribution and the employer contribution together form your package. The employer does not pay/contribute from their side. This is deducted from your salary; there will be two deductions, with only one - your deduction - mentioned in your salary slip. Companies are now using this tool, as this was not the case earlier.
Regards,
Shashank Sheode
From India, Pune
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Nowadays, companies are deducting PF from your CTC/Package. The employee contribution and the employer contribution together form your package. The employer does not pay/contribute from their side. This is deducted from your salary; there will be two deductions, with only one - your deduction - mentioned in your salary slip. Companies are now using this tool, as this was not the case earlier.
Regards,
Shashank Sheode
From India, Pune
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Dear Shashank Sheode,
CTC means Cost To Company. Therefore, employer contributions are paid by the company/employer itself. If you believe that it is being deducted from employee salaries, you may approach the EPF Enforcement Officer, Labour Department, etc., as it is a statutory obligation to remit employer contributions to EPF.
Abbas. P. S
From India, Bangalore
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CTC means Cost To Company. Therefore, employer contributions are paid by the company/employer itself. If you believe that it is being deducted from employee salaries, you may approach the EPF Enforcement Officer, Labour Department, etc., as it is a statutory obligation to remit employer contributions to EPF.
Abbas. P. S
From India, Bangalore
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hi, thank you for answers...as pan singh ji u asked for the break. Basic : 14741 HRA : 8844 SPL ALL: 5896 CONV ALLOW: 5000 DEDUCTION PF :1769 IT :749 TRANSPORT DEDUCTION:750 CTC :450000
From India, Delhi
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From India, Delhi
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Hi, thank you for your answers. As Pan Singh Ji requested, here is the breakdown:
Basic: 176887
HRA: 106132
Special Allowance: 70755
Conveyance: 60000
Medical: 15000
PF: 21226
CTC: 450000
Two amounts of Rs 1769 are deducted. One is shown in the salary slip, while the other one is not displayed.
From India, Delhi
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Basic: 176887
HRA: 106132
Special Allowance: 70755
Conveyance: 60000
Medical: 15000
PF: 21226
CTC: 450000
Two amounts of Rs 1769 are deducted. One is shown in the salary slip, while the other one is not displayed.
From India, Delhi
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As per the figures given above, the extra deduction of Rs. 1769 seems to be okay, as the employer contribution of Rs. 1769 is part of your CTC. One deduction is made for your contribution, and another is made to match your CTC. Now, the considerable point is on what negotiation you were appointed. You can ask your HR department to submit your CTC in phases as below:
Monthly:
1. Basic
2. HRA
3. Conveyance
4. Special Pay
5. Medical Allowance
Total
Reimbursement:
6. LTA
Retirement Benefits:
7. PF (12%)
8. Gratuity
Fixed Cost to Company
Moreover, your Income Tax also seems to be a little bit on the higher side. According to my calculation, your Income Tax should be:
(A) Total CTC = 450000
(B) Less: Various deductions/benefits, etc.
1. Tax-Free Limit = 250000
2. Conveyance = 19200
3. Medical Allowance = 15000
4. Deductions 80C = 150000 (you have to submit proof of saving under this head)
Total Deductions (B) = 434000
Taxable Income (C) (A-B) = 16000 (Tax @ 10% = 1600 for the whole year)
In addition to the above, you can save under HRA, which depends on your residence status (consult with your HR/Payroll).
Please review and let me know if you need any further clarification.
Thank you.
Regards
From India, Delhi
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Monthly:
1. Basic
2. HRA
3. Conveyance
4. Special Pay
5. Medical Allowance
Total
Reimbursement:
6. LTA
Retirement Benefits:
7. PF (12%)
8. Gratuity
Fixed Cost to Company
Moreover, your Income Tax also seems to be a little bit on the higher side. According to my calculation, your Income Tax should be:
(A) Total CTC = 450000
(B) Less: Various deductions/benefits, etc.
1. Tax-Free Limit = 250000
2. Conveyance = 19200
3. Medical Allowance = 15000
4. Deductions 80C = 150000 (you have to submit proof of saving under this head)
Total Deductions (B) = 434000
Taxable Income (C) (A-B) = 16000 (Tax @ 10% = 1600 for the whole year)
In addition to the above, you can save under HRA, which depends on your residence status (consult with your HR/Payroll).
Please review and let me know if you need any further clarification.
Thank you.
Regards
From India, Delhi
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SALARY with out PF Deduction.xls