Hi Friends,
Can anyone send me the rules of PF issues to follow? I will be very much grateful to them because I joined a big MNC in Statutory and Payroll of the company. Also, we have RPFC as well as Trust (I need some information about the Trust as well).
One of our employees wants to increase his PF contribution. How can I proceed with it?
Kindly help me. I will be waiting for a reply.
Regards
From India, Morvi
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Can anyone send me the rules of PF issues to follow? I will be very much grateful to them because I joined a big MNC in Statutory and Payroll of the company. Also, we have RPFC as well as Trust (I need some information about the Trust as well).
One of our employees wants to increase his PF contribution. How can I proceed with it?
Kindly help me. I will be waiting for a reply.
Regards
From India, Morvi
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Dear firend, Instead of pf issues to follow, can you give me your specific querry, so that it will be helpful for me to answer your question/clarify doubt. Rds, Martin
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Dear Sangeetha,
That was a good help. If I understand it correctly, does the employee pay 12% of basic + dearness or is it just 12% of the basic wage? Additionally, does the employee pay 3.67% of basic + dearness or is it just 3.67% of the basic into PF, and 8.33% into the pension scheme? Please guide.
Thank you.
From India, New Delhi
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That was a good help. If I understand it correctly, does the employee pay 12% of basic + dearness or is it just 12% of the basic wage? Additionally, does the employee pay 3.67% of basic + dearness or is it just 3.67% of the basic into PF, and 8.33% into the pension scheme? Please guide.
Thank you.
From India, New Delhi
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is pf mandatory for all basic ranges or is there a upper limit after which it becomes optional?
From India, New Delhi
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From India, New Delhi
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Thanks a lot, Abhi. I have understood the procedure of PF calculation. Now my problem is, what is a challan and account numbers 1, 2, 10, 21, & 22? I mean, a challan is for depositing money in the SBI bank in favor of PF organization, but how will I set up these accounts first? Is it by going to the PF office? Don't we require to deposit the money in the employees' PF account numbers? But in this format, it's not asking for it.
From India, New Delhi
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From India, New Delhi
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Hi Friends,
A simple way to compute PF:
Contribution- both employer and employee should contribute 12%
1. Employer Contribution - 12% of Basic Salary of Employee (It fully goes to PF)
2. Employee Contribution - 12% (8.33% goes to Pension and 3.67% goes to PF)
So, the total contribution of 15.67% (both employer and employee) goes to PF, and generally, employees who are receiving above 6500/- rupees means PF contribution of employees is optional.
From India, Madras
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A simple way to compute PF:
Contribution- both employer and employee should contribute 12%
1. Employer Contribution - 12% of Basic Salary of Employee (It fully goes to PF)
2. Employee Contribution - 12% (8.33% goes to Pension and 3.67% goes to PF)
So, the total contribution of 15.67% (both employer and employee) goes to PF, and generally, employees who are receiving above 6500/- rupees means PF contribution of employees is optional.
From India, Madras
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Provident Fund - Excluded Employee - Definition.pdf