Hai how much to contribute pay to pf amount maximum amount per year and how much maximun get employee pf amount? please any one reply regards ram s
From India, Madras
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1From India, Madras
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Dear Ram,
Greetings. Recently, we discussed a lot about PF and its operation in the following thread, which is self-explanatory. Hope this would be sufficient for your queries.
Cheers,
Trisha
HR Professional
From India, New Delhi
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Greetings. Recently, we discussed a lot about PF and its operation in the following thread, which is self-explanatory. Hope this would be sufficient for your queries.
Cheers,
Trisha
HR Professional
From India, New Delhi
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Dear Trisha Thanks to reply i am asking not that please under stand my question maximum amout pf how much get ending his/her employment. thanks and regards ram s
From India, Madras
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From India, Madras
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Dear Ram,
Greetings.
There is no maximum amount fixed for withdrawal from the Provident Fund (PF). Whatever contribution we remit to one's account will be returned with an interest rate of 8.5% per year.
Cheers,
Trisha
HR Professional
From India, New Delhi
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Greetings.
There is no maximum amount fixed for withdrawal from the Provident Fund (PF). Whatever contribution we remit to one's account will be returned with an interest rate of 8.5% per year.
Cheers,
Trisha
HR Professional
From India, New Delhi
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Dear Trisha,
Thank you for your response. An employee's basic salary is 11,000. His contribution is 12%, amounting to 1320. He also makes a voluntary contribution of 45% per month. His yearly PF contribution amount is nearly 75,000. His service began 21 years ago, and he plans to end his service at either age 58 or 60.
How much will he receive as PF? If you understand my question, please contact my cell at 9840578093.
Thanks & regards, Ram S
From India, Madras
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Thank you for your response. An employee's basic salary is 11,000. His contribution is 12%, amounting to 1320. He also makes a voluntary contribution of 45% per month. His yearly PF contribution amount is nearly 75,000. His service began 21 years ago, and he plans to end his service at either age 58 or 60.
How much will he receive as PF? If you understand my question, please contact my cell at 9840578093.
Thanks & regards, Ram S
From India, Madras
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Dear Trisha please reply. A employee can get PF amount Rs. 200,00,000 is posiple or not please Explain. Regards ram s
From India, Madras
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From India, Madras
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Dear Ram Greetings. It is absolutely possible when he contributed for 2 lakhs in his account. Cheers Trisha HR Professional
From India, New Delhi
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From India, New Delhi
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Hi Ram,
If an employee's basic salary is Rs. 11,000, then his annual contribution will be Rs. 15,840, and the employer will also contribute the same, as mentioned by Trisha Govt with an interest rate of 8.5%. However, this percentage may vary from year to year. This year, the percentage has not been decided yet.
Whatever amount the employee contributes, he will get back his money. I think I have explained what I know. If you have any more doubts, please email me at klavanya14@yahoo.co.in, and I will reply.
Lavanya
From India, Chennai
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If an employee's basic salary is Rs. 11,000, then his annual contribution will be Rs. 15,840, and the employer will also contribute the same, as mentioned by Trisha Govt with an interest rate of 8.5%. However, this percentage may vary from year to year. This year, the percentage has not been decided yet.
Whatever amount the employee contributes, he will get back his money. I think I have explained what I know. If you have any more doubts, please email me at klavanya14@yahoo.co.in, and I will reply.
Lavanya
From India, Chennai
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Hi Ram,
EPF contribution total is 25.61%. In this, 12% contribution is by the Employee himself, and the remaining 13.61% will be paid by the employer. Now, I am explaining for your question. If the employee's basic salary is 11000, his contribution is Rs. 1320 per month. Employer Contribution is Rs. 1497 per month. As per the EPF & MP Act 1952, the Employee Pension Fund's Ceiling Amount is Rs. 541 only. So, the remaining amount is deposited into the Provident Fund. If the employee contributes voluntarily, it will go to the Provident Fund's Account. If the employee pays for 21 years, he will get 8.5% of interest per annum (it will vary) and his total amount. Even if the total amount is 2 crores or more, he will be eligible (he has rights) to receive that amount.
Regards, Ravi Kumar T 09964519065
From India, Bangalore
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EPF contribution total is 25.61%. In this, 12% contribution is by the Employee himself, and the remaining 13.61% will be paid by the employer. Now, I am explaining for your question. If the employee's basic salary is 11000, his contribution is Rs. 1320 per month. Employer Contribution is Rs. 1497 per month. As per the EPF & MP Act 1952, the Employee Pension Fund's Ceiling Amount is Rs. 541 only. So, the remaining amount is deposited into the Provident Fund. If the employee contributes voluntarily, it will go to the Provident Fund's Account. If the employee pays for 21 years, he will get 8.5% of interest per annum (it will vary) and his total amount. Even if the total amount is 2 crores or more, he will be eligible (he has rights) to receive that amount.
Regards, Ravi Kumar T 09964519065
From India, Bangalore
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Dear Friends,
Based on my knowledge and experience, the maximum amount of PF contribution for employees is Rs. 780 per month (12% of the basic salary of Rs. 6,500). Regardless of the employee's salary, even if it is Rs. 1 lakh, the PF contribution will not exceed Rs. 780 per month.
Regards,
Sri
From India, Pune
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Based on my knowledge and experience, the maximum amount of PF contribution for employees is Rs. 780 per month (12% of the basic salary of Rs. 6,500). Regardless of the employee's salary, even if it is Rs. 1 lakh, the PF contribution will not exceed Rs. 780 per month.
Regards,
Sri
From India, Pune
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Dear Friend, What sri say is correct, what ever may be the salary Rs.780/- and the remaning amount will be to the Employee Pension Scheme accout only. Lavanya
From India, Chennai
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From India, Chennai
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Hi Ram,
This is really a good one. Below are the points to be considered:
1. He starts giving 45% of his basic to PF without fail for all the years until he is 59.
2. There must be no cut in the service.
3. Considering that there will be no rise in salary.
4. Considering the interest rate will be 8.5% throughout the period.
Hold your breath... the person will get Rs. 2,22,07,542.00, i.e., Two Crores Twenty-two lakhs Seven thousand five hundred forty-two rupees.
Happy, so when can we get the party.
Cheers,
Suneel.
From India, Bangalore
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This is really a good one. Below are the points to be considered:
1. He starts giving 45% of his basic to PF without fail for all the years until he is 59.
2. There must be no cut in the service.
3. Considering that there will be no rise in salary.
4. Considering the interest rate will be 8.5% throughout the period.
Hold your breath... the person will get Rs. 2,22,07,542.00, i.e., Two Crores Twenty-two lakhs Seven thousand five hundred forty-two rupees.
Happy, so when can we get the party.
Cheers,
Suneel.
From India, Bangalore
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Hi Ram,
Naturally, these things are obvious and under calculation with slabs/rules/interest rates. If someone is making a higher contribution, they will accordingly receive more. This does not raise any significant question about whether they will receive 2 lakhs or 2 crores. If their contribution is on the higher side, targeting 2 crores, surely they will achieve that; no one can change or alter the fundamentals as all acts and rules are in place.
Thank you,
Tarun
From India, Lucknow
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Naturally, these things are obvious and under calculation with slabs/rules/interest rates. If someone is making a higher contribution, they will accordingly receive more. This does not raise any significant question about whether they will receive 2 lakhs or 2 crores. If their contribution is on the higher side, targeting 2 crores, surely they will achieve that; no one can change or alter the fundamentals as all acts and rules are in place.
Thank you,
Tarun
From India, Lucknow
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Tarun,
I have mentioned the amount as per the requirement posted by Ram. Yes, you are correct that the rules may change. For that purpose, I have mentioned that if the rate of interest remains the same and without fail, the payment is being made.
One more thing is I have not considered that his salary will increase during the whole period. If you consider at least a 10% hike every year, then the amount will easily cross 3 Crores.
Regards,
Suneel.
From India, Bangalore
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I have mentioned the amount as per the requirement posted by Ram. Yes, you are correct that the rules may change. For that purpose, I have mentioned that if the rate of interest remains the same and without fail, the payment is being made.
One more thing is I have not considered that his salary will increase during the whole period. If you consider at least a 10% hike every year, then the amount will easily cross 3 Crores.
Regards,
Suneel.
From India, Bangalore
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Dear Ravi,
Thank you for your reply. The employee's contribution is 12% of his basic wages. For example, if his basic wage is 11,000, the contribution amount would be 1,320.
The employer's contribution is either 13.61% of the basic 11,000 or 13.61% of 6,500.
Please reply or call me on my mobile at 09840578093.
Thanks and regards,
Ram S
From India, Madras
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Thank you for your reply. The employee's contribution is 12% of his basic wages. For example, if his basic wage is 11,000, the contribution amount would be 1,320.
The employer's contribution is either 13.61% of the basic 11,000 or 13.61% of 6,500.
Please reply or call me on my mobile at 09840578093.
Thanks and regards,
Ram S
From India, Madras
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Ram, It depends on the company. When the company has added the amount in CTC, they add as same basic option. If it is not included in the CTC then they go for 6500 slab. regards suneel.
From India, Bangalore
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From India, Bangalore
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Hi Ram,
Most of the companies have started giving salaries in CTC format (Cost To Company), in which they provide all the details showing the total expenses to the company for hiring the person. This includes the PF component as well. They provide details such as PF for both the employee and employer, and bonuses within the CTC. In such cases, the company is willing to provide 12% of whatever the basic salary of the employee is, without incurring any additional cost.
However, some companies do not follow the CTC option. Instead, they fix the salary to include only what the employee receives. These companies set a limit of Rs. 6,500/- for the employer's contribution to the PF, allowing them to save money.
Regards,
From India, Bangalore
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Most of the companies have started giving salaries in CTC format (Cost To Company), in which they provide all the details showing the total expenses to the company for hiring the person. This includes the PF component as well. They provide details such as PF for both the employee and employer, and bonuses within the CTC. In such cases, the company is willing to provide 12% of whatever the basic salary of the employee is, without incurring any additional cost.
However, some companies do not follow the CTC option. Instead, they fix the salary to include only what the employee receives. These companies set a limit of Rs. 6,500/- for the employer's contribution to the PF, allowing them to save money.
Regards,
From India, Bangalore
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
PROVIDENT FUND CALCULATION.xls