Sir,
I am working as an HR professional in the hotel industry, but I do not have much experience. I would like to understand the details regarding PF and Pension withdrawals. Could you please inform me about what is eligible to receive the amount and the period of time required to receive the amount in my bank account?
Regards,
Karthi
From India, Thrissur
Acknowledge(2)
Amend(0)
3I am working as an HR professional in the hotel industry, but I do not have much experience. I would like to understand the details regarding PF and Pension withdrawals. Could you please inform me about what is eligible to receive the amount and the period of time required to receive the amount in my bank account?
Regards,
Karthi
From India, Thrissur
Acknowledge(2)Amend(0)
Dear [User],
As you have asked about the withdrawal procedure of provident fund and pension share, here is the information you need:
12% of the employee share is deducted and deposited in the provident fund, while 12% of the employer share is deducted. Out of this 12%, 8.33% is deposited in the pension account, and the remaining 3.67% is deposited in the PF account. When a person leaves the organization, they are entitled to withdraw this amount.
You can submit the withdrawal form after 60 days of leaving the organization. You need to fill out form 19 and 10 c for withdrawal, get it attested by the employer, and deposit it at the RPFC office. Generally, it takes 45 to 50 days to transfer the amount to your account. If your length of service is less than 6 months, you will not be able to withdraw the pension share.
Thank you,
J. S. Malik
From India, Delhi
Acknowledge(0)Amend(0)
As you have asked about the withdrawal procedure of provident fund and pension share, here is the information you need:
12% of the employee share is deducted and deposited in the provident fund, while 12% of the employer share is deducted. Out of this 12%, 8.33% is deposited in the pension account, and the remaining 3.67% is deposited in the PF account. When a person leaves the organization, they are entitled to withdraw this amount.
You can submit the withdrawal form after 60 days of leaving the organization. You need to fill out form 19 and 10 c for withdrawal, get it attested by the employer, and deposit it at the RPFC office. Generally, it takes 45 to 50 days to transfer the amount to your account. If your length of service is less than 6 months, you will not be able to withdraw the pension share.
Thank you,
J. S. Malik
From India, Delhi
Acknowledge(0)Amend(0)
Dear All, what is the payment date for P.F,annual return date P.F i also want to know for what purpose form 12A,form 10 & 5 used for
From China
Acknowledge(0)Amend(0)
From China
Acknowledge(0)Amend(0)
Dear Friends,
Please herewith find the PF information in detailed.
Provident Fund Full Details - Full Details
PF:
1. The Employees Provident Fund Scheme, 1952
2. The Employees Family Pension Scheme, 1971
3. The Employees Deposit-Linked Insurance Scheme, 1976
Calculations: P.F from Basic
Employee: 12% (P.F)
Employer: 3.67% Provident Fund (A/c 1) + 8.33% Pension (A/c 10) + 1.10% Admin Charges on
PF (A/c 2) + 0.50% EDLI (A/c 21) + 0.01% Admin Charges on EDLI (A/c 22)
=>13.61% on basic
* Pension (8.33% or 541/- which ever less)
Regular activities:
1. Time of joining: Form 2: Employee should fill, at the time of joining, nomination & Declaration form.
Form 2, includes the following
· Name of the employee
· Parent/spouse name
· Date of Birth
· Sex
· Marital Status
· AC No
· Address
· Names, address, relation, Share for each etc
Also for changing nominee names Form 2 is used. His eligibility begins on the date of joining the firm. Submitted along with form-5.
2. Withdrawers/Dead : Form 10c (pension) & 19 PF
Form 19 is used for withdrawing PF amount. Employee and parent/spouse name, name of the establishment, Ac no, Reasons for leaving service, Contribution for current financial year etc. Form 10 is used for pension withdrawal.
Form 19: Employee should fill, all information like Bank a/c, name, DOJ…with signature and then
Employer like present year contributions, DOR…for PF Fund – Due date: After 60 Days
of Resignation)
Form 10C: Employee should fill, all information like Bank a/c, name, DOJ…with signature and
then employer like present year contributions, DOR…for Pension Due date: After 60 Days of Resignation
3. Transfer : Form 13
Form 13 is used for transferring an employee AC from one company to another. Both employer and employee have to specify his name, PF AC no, Position etc and submitted with a covering letter (consolidated list of employees). Photocopy of the above is kept in PF file for transfer.
4. Employee register 3A, 6
5. For advance : Form 31
6. In case of employee expired / dead :
Process details
Form 10 D (For claiming benefits under Pension)
Employee should fill like Expired/late employee name, nomination name, details, Nomination Bank a/c…for monthly Pension
Form 20 (For Claiming EPF Contributions)
Employee should fill like Expired/late employee name, nomination name, details,
Nomination Bank a/c…for withdrawal of PF Fund (Incase of Death of a member
Form 5 IF (For Claiming EDLI benefits, nominee will get benefit)
EDLI for death case, nominee will get benefit.
7. Form 9 (Register of employers - Application for review filed under)
Monthly Remittance / Challans:
1. Challans every month before 15th (4 copies/ quadruplicate)
2. All A/c (A/c Nos-1,2,10,21&22)
3. To Bank
4. both employer & employee contribution
· Account group no eg TN/ 1246/01 (state-first two alphabets /city/acc no: of the company)
· Month
· Total number of subscribers
· Total wages due for each account (wages on which calculations are done)
· Each accounts totals (consolidated amount with employer and employee share)
· Name of the establishment and address
· Name and signature of the depositor
· Name of the bank, mode and date of remittance etc
Challan is submitted tp PF office along with form-12A every month.
Monthly returns:
1. Form 12 A, with all information and employees list of contribution before 25th
2. With Form 5 (new joiners list) , form 10 (resigned employees list), challans copy
3. Information about last month employees, new & resigned employees & this month staff.
Form 5
· Name of the establishment and address
· Month
· Code no: of the factory
· A c no:
· Name of new employees
· Fathers or Husband name in case of married women
· Date of birth
· Sex
· Date of joining the fund
· Total period of pervious services as on the date of joining the fund
Form 10
· Name of the establishment and address
· Month
· Code no: of the establishment
· A c no:
· Name of member who is leaving
· Fathers or Husband name in case of married women
· Date of leaving service
· Reasons for leaving service
· Signature of authorized officer and stamp of the establishment
Cross checking the above is done with the salary statement which includes the number and name all current employees.
Form 12 A:
· Name of the establishment and address
· Currency period and month (April yr to march yr)
· Statutory rate of contribution (12%)
· Group code (NA for unexampled establishment. Establishment having more than 1000 have to keep a PF trust and have to specify the group code)
· Total wages due for each account (wages on which calculations are done)
· Amount of contribution and amount remitted (consolidated amount with employer and employee share)
· Date of remittance
· Total number of subscribers for the current month.
· Name and address of the bank in which the amount is remitted.
· Details of subscribers for E.P.F, PF, EDLI
--No of subscribers as per last month
--No of new subscribers (vide Form 5)
--No of subscribers left service (vide Form 10)
--Total no of subscribers (After adding and subtracting the new and retired employees with,
the number should tally with monthly list of employees)
Annul returns:
1. Form 3 A (Individual Computation sheet)
2. Form 6 A (Consolidated Annual Contribution Statement)
3. before 30th April every year
Form 6A:
· Currency period and month (April yr to march yr)
· Name of the establishment and address
· Code no: of the establishment
· No: of member voluntary contributing at a higher rate
· AC No of each employee followed by their name, annual salary, annual contribution, employer contribution, refund of advance, rate of voluntary contribution.
· This grand total should tally with all form 12 A and challans totals.
Form 3A: Register
This form is filled up for each employee stating his each monthly salary, contribution, Employer share, Refund of advance, No of days/period of non contributing service, if any (eg. unauthorised leave). If the employee is resigned during that financial year then the date of leaving service and reasons for leaving service should be specified in this form. Using Form 3A, form 6 A is filled up and crosschecking is done with all challans and 12 A forms.
* Muster Roll * Wage Register * Inspection Book * Cash Book, Voucher & Ledger * PF work sheet
Forms:
Form 3: Contribution Cards - Individual Computation sheet contains all PF amts month-wise.
Form 3 A: Contribution Cards – Form
Form 4: Contribution card for employees other than monthly paid employees - Form
Form 5 A: Return of Ownership to be sent to the Regional Commissioner - Form
Form 6: Return of the Contribution Cards sent to the Commissioner on the expiry of the period
of currency – Form
Form 6 A: Consolidated Annual Contribution Statement - Consolidated Computation Sheet,
contains total employees list, there total half yearly information. Form 6 is top sheet
and 6A is attachments.
Form 9: Register of employees - Application for review filed under.
Register 3: Individual Computation, there Gross salary, Basic, DA, attendance, PF, Pension
Warmest Regards,
Mohan.M.S
"willingness to walk the extra mile to achieve excellence"
From India, Madras
Acknowledge(0)Amend(0)
Please herewith find the PF information in detailed.
Provident Fund Full Details - Full Details
PF:
1. The Employees Provident Fund Scheme, 1952
2. The Employees Family Pension Scheme, 1971
3. The Employees Deposit-Linked Insurance Scheme, 1976
Calculations: P.F from Basic
Employee: 12% (P.F)
Employer: 3.67% Provident Fund (A/c 1) + 8.33% Pension (A/c 10) + 1.10% Admin Charges on
PF (A/c 2) + 0.50% EDLI (A/c 21) + 0.01% Admin Charges on EDLI (A/c 22)
=>13.61% on basic
* Pension (8.33% or 541/- which ever less)
Regular activities:
1. Time of joining: Form 2: Employee should fill, at the time of joining, nomination & Declaration form.
Form 2, includes the following
· Name of the employee
· Parent/spouse name
· Date of Birth
· Sex
· Marital Status
· AC No
· Address
· Names, address, relation, Share for each etc
Also for changing nominee names Form 2 is used. His eligibility begins on the date of joining the firm. Submitted along with form-5.
2. Withdrawers/Dead : Form 10c (pension) & 19 PF
Form 19 is used for withdrawing PF amount. Employee and parent/spouse name, name of the establishment, Ac no, Reasons for leaving service, Contribution for current financial year etc. Form 10 is used for pension withdrawal.
Form 19: Employee should fill, all information like Bank a/c, name, DOJ…with signature and then
Employer like present year contributions, DOR…for PF Fund – Due date: After 60 Days
of Resignation)
Form 10C: Employee should fill, all information like Bank a/c, name, DOJ…with signature and
then employer like present year contributions, DOR…for Pension Due date: After 60 Days of Resignation
3. Transfer : Form 13
Form 13 is used for transferring an employee AC from one company to another. Both employer and employee have to specify his name, PF AC no, Position etc and submitted with a covering letter (consolidated list of employees). Photocopy of the above is kept in PF file for transfer.
4. Employee register 3A, 6
5. For advance : Form 31
6. In case of employee expired / dead :
Process details
Form 10 D (For claiming benefits under Pension)
Employee should fill like Expired/late employee name, nomination name, details, Nomination Bank a/c…for monthly Pension
Form 20 (For Claiming EPF Contributions)
Employee should fill like Expired/late employee name, nomination name, details,
Nomination Bank a/c…for withdrawal of PF Fund (Incase of Death of a member
Form 5 IF (For Claiming EDLI benefits, nominee will get benefit)
EDLI for death case, nominee will get benefit.
7. Form 9 (Register of employers - Application for review filed under)
Monthly Remittance / Challans:
1. Challans every month before 15th (4 copies/ quadruplicate)
2. All A/c (A/c Nos-1,2,10,21&22)
3. To Bank
4. both employer & employee contribution
· Account group no eg TN/ 1246/01 (state-first two alphabets /city/acc no: of the company)
· Month
· Total number of subscribers
· Total wages due for each account (wages on which calculations are done)
· Each accounts totals (consolidated amount with employer and employee share)
· Name of the establishment and address
· Name and signature of the depositor
· Name of the bank, mode and date of remittance etc
Challan is submitted tp PF office along with form-12A every month.
Monthly returns:
1. Form 12 A, with all information and employees list of contribution before 25th
2. With Form 5 (new joiners list) , form 10 (resigned employees list), challans copy
3. Information about last month employees, new & resigned employees & this month staff.
Form 5
· Name of the establishment and address
· Month
· Code no: of the factory
· A c no:
· Name of new employees
· Fathers or Husband name in case of married women
· Date of birth
· Sex
· Date of joining the fund
· Total period of pervious services as on the date of joining the fund
Form 10
· Name of the establishment and address
· Month
· Code no: of the establishment
· A c no:
· Name of member who is leaving
· Fathers or Husband name in case of married women
· Date of leaving service
· Reasons for leaving service
· Signature of authorized officer and stamp of the establishment
Cross checking the above is done with the salary statement which includes the number and name all current employees.
Form 12 A:
· Name of the establishment and address
· Currency period and month (April yr to march yr)
· Statutory rate of contribution (12%)
· Group code (NA for unexampled establishment. Establishment having more than 1000 have to keep a PF trust and have to specify the group code)
· Total wages due for each account (wages on which calculations are done)
· Amount of contribution and amount remitted (consolidated amount with employer and employee share)
· Date of remittance
· Total number of subscribers for the current month.
· Name and address of the bank in which the amount is remitted.
· Details of subscribers for E.P.F, PF, EDLI
--No of subscribers as per last month
--No of new subscribers (vide Form 5)
--No of subscribers left service (vide Form 10)
--Total no of subscribers (After adding and subtracting the new and retired employees with,
the number should tally with monthly list of employees)
Annul returns:
1. Form 3 A (Individual Computation sheet)
2. Form 6 A (Consolidated Annual Contribution Statement)
3. before 30th April every year
Form 6A:
· Currency period and month (April yr to march yr)
· Name of the establishment and address
· Code no: of the establishment
· No: of member voluntary contributing at a higher rate
· AC No of each employee followed by their name, annual salary, annual contribution, employer contribution, refund of advance, rate of voluntary contribution.
· This grand total should tally with all form 12 A and challans totals.
Form 3A: Register
This form is filled up for each employee stating his each monthly salary, contribution, Employer share, Refund of advance, No of days/period of non contributing service, if any (eg. unauthorised leave). If the employee is resigned during that financial year then the date of leaving service and reasons for leaving service should be specified in this form. Using Form 3A, form 6 A is filled up and crosschecking is done with all challans and 12 A forms.
* Muster Roll * Wage Register * Inspection Book * Cash Book, Voucher & Ledger * PF work sheet
Forms:
Form 3: Contribution Cards - Individual Computation sheet contains all PF amts month-wise.
Form 3 A: Contribution Cards – Form
Form 4: Contribution card for employees other than monthly paid employees - Form
Form 5 A: Return of Ownership to be sent to the Regional Commissioner - Form
Form 6: Return of the Contribution Cards sent to the Commissioner on the expiry of the period
of currency – Form
Form 6 A: Consolidated Annual Contribution Statement - Consolidated Computation Sheet,
contains total employees list, there total half yearly information. Form 6 is top sheet
and 6A is attachments.
Form 9: Register of employees - Application for review filed under.
Register 3: Individual Computation, there Gross salary, Basic, DA, attendance, PF, Pension
Warmest Regards,
Mohan.M.S
"willingness to walk the extra mile to achieve excellence"
From India, Madras
Acknowledge(0)Amend(0)
Hi, this is Santosh working in Hyderabad from July 08. I received my PF number: AP/HYD/59680/91. I want to check my account status and see how much amount has been credited to my account. Please do the needful and assist. Thank you.
Regards,
Santosh
From India, Calcutta
Acknowledge(0)Amend(0)
Regards,
Santosh
From India, Calcutta
Acknowledge(0)Amend(0)
Dear EPFO,
You can check the status of your PF account on the following PF website. I believe that for the year 2008 to 2009, the account is yet to be updated. Kindly verify this information.
Warmest Regards,
Mohan M.S
From India, Madras
Acknowledge(0)Amend(0)
You can check the status of your PF account on the following PF website. I believe that for the year 2008 to 2009, the account is yet to be updated. Kindly verify this information.
Warmest Regards,
Mohan M.S
From India, Madras
Acknowledge(0)Amend(0)
Hello friends, I am Harinadh, i need the details of HR polacies like joining formalities documents, employee exist check list doc’s & employee benfits of all procedures.
From India, Calcutta
Acknowledge(0)Amend(0)
From India, Calcutta
Acknowledge(0)Amend(0)
hi ! i m new user can any body tell about what is laour law and what is the process of that law plz
From India, Pune
Acknowledge(0)Amend(0)
From India, Pune
Acknowledge(0)Amend(0)
If an employee (having EPF benefit) drawing a salary of 10,000 (Basic + DA), then what is the calculation for monthly remittance:
1) Employee Contribution (12% of 10,000): 1,200.00
2) Employer Contribution - Pension (8.33%): 541.00 (limited to 6,500)
3) Employer Contribution - PF (balance): 659.00 (1,200 - 541)
TOTAL: 2,400.00
OR
1) Employee Contribution (12% of 10,000): 1,200.00
2) Employer Contribution - Pension (8.33%): 541.00 (limited to 6,500)
3) Employer Contribution - PF (3.67%): 239.00 (limited to 6,500)
TOTAL: 1,980.00
Please advise...
From India, Thiruvananthapuram
Acknowledge(0)Amend(0)
1) Employee Contribution (12% of 10,000): 1,200.00
2) Employer Contribution - Pension (8.33%): 541.00 (limited to 6,500)
3) Employer Contribution - PF (balance): 659.00 (1,200 - 541)
TOTAL: 2,400.00
OR
1) Employee Contribution (12% of 10,000): 1,200.00
2) Employer Contribution - Pension (8.33%): 541.00 (limited to 6,500)
3) Employer Contribution - PF (3.67%): 239.00 (limited to 6,500)
TOTAL: 1,980.00
Please advise...
From India, Thiruvananthapuram
Acknowledge(0)Amend(0)
Hello, I need to prepare a salary break up of 4.80lacs p.a. for a senior manager. please suggest me the same as this company is a start up organization and does not have P.F. facility currently.
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Dear all,
In my company of 200 employees, I am the first HR person. I have to design a new salary structure for the sales staff. However, the problem is that creating the new structure will affect their net salary. Therefore, I need to educate them about PF, ESIC, PT, TDS, and their benefits. Could you please share any kind of presentation with me to help them understand the statutory benefits?
Thank you.
From India, Mumbai
Acknowledge(0)Amend(0)
In my company of 200 employees, I am the first HR person. I have to design a new salary structure for the sales staff. However, the problem is that creating the new structure will affect their net salary. Therefore, I need to educate them about PF, ESIC, PT, TDS, and their benefits. Could you please share any kind of presentation with me to help them understand the statutory benefits?
Thank you.
From India, Mumbai
Acknowledge(0)Amend(0)
Hi Mohan,
You have done excellent work. You have provided us with profound details on PF. I've read many things about PF, but after your post, I got to know many other new things.
Thanks for your marvelous act.
From India, Gurgaon
Acknowledge(0)Amend(0)
You have done excellent work. You have provided us with profound details on PF. I've read many things about PF, but after your post, I got to know many other new things.
Thanks for your marvelous act.
From India, Gurgaon
Acknowledge(0)Amend(0)
Hi , As requested , please find the presentation on TDs. Hope it will help you.
From United States, Winston Salem
Acknowledge(0)Amend(0)
From United States, Winston Salem
Acknowledge(0)Amend(0)
Dear Priyanka,
I will explain to you about Form-3A (Revised) step by step,
For example, if you are going to submit Form-3A (Revised) of an employee who has resigned from your organization.
1. Account No - You have to mention your employee's PF account number.
2. Name - You have to mention your employee's name with initials.
3. Father's name - You have to mention your employee's father's name with initials.
4. Name and Address of the establishment - You have to specify your organization's name and address.
5. Statutory Rate of contribution - 12%
6. Voluntary higher rate of employee's contribution - There is an option for employees to contribute a voluntary higher rate towards EPF. In that case, if any employee is contributing voluntarily, you have to specify the rate of contribution; otherwise, you have to mention Nil.
7. Employee contribution on higher wages to EPF Y/N - If the employee contributed a higher rate of wages, you have to specify Yes; otherwise, you have to mention NO.
8. Voluntary contribution Y/N - If there is any voluntary contribution towards EPF, you have to mention Yes; otherwise, No.
a) Column No. 1 - You have to mention the months in that column starting from March paid in April to February paid in March.
b) Column No. 2 - Amount of wages - You have to specify the employee's Basic + DA. For example, if your employee's basic is 5000 and DA is 1500, making a total of 6500, you have to mention 6500 as the amount of wages.
c) Column No. 3 - EPF 12% - For example, as the same above, from 6500, you have to calculate 12%, which will be 780.
d) Column 2 & 3 will be employee share, and 4 & 5 will be employer share. Employer's share of 12% will be classified into two ways; 3.67% will be accounted in EPF, and the remaining 8.33% will be accounted in the Pension fund. For example, if 6500 is your employee's basic and DA, the employer's contribution will be 12%:
6500 * 3.67% = 239
6500 * 8.33% = 541
e) Column 6. Refund of advance - If an employee works for more than seven years, he/she is eligible for an advance in PF. In that case, if you have refunded the advance, you have to mention the advance details.
f) Column 7. No. of days/Period of non-contributing service - If the employee had any break in service, you have to mention it; otherwise, there is no need. For example, if the employee had a break in service due to illness or an accident and came back after 1 or 2 months, it will be treated as a break in the employee's service.
I hope your doubts have been cleared.
Warmest Regards,
Mohan M.S
From India, Madras
Acknowledge(0)Amend(0)
I will explain to you about Form-3A (Revised) step by step,
For example, if you are going to submit Form-3A (Revised) of an employee who has resigned from your organization.
1. Account No - You have to mention your employee's PF account number.
2. Name - You have to mention your employee's name with initials.
3. Father's name - You have to mention your employee's father's name with initials.
4. Name and Address of the establishment - You have to specify your organization's name and address.
5. Statutory Rate of contribution - 12%
6. Voluntary higher rate of employee's contribution - There is an option for employees to contribute a voluntary higher rate towards EPF. In that case, if any employee is contributing voluntarily, you have to specify the rate of contribution; otherwise, you have to mention Nil.
7. Employee contribution on higher wages to EPF Y/N - If the employee contributed a higher rate of wages, you have to specify Yes; otherwise, you have to mention NO.
8. Voluntary contribution Y/N - If there is any voluntary contribution towards EPF, you have to mention Yes; otherwise, No.
a) Column No. 1 - You have to mention the months in that column starting from March paid in April to February paid in March.
b) Column No. 2 - Amount of wages - You have to specify the employee's Basic + DA. For example, if your employee's basic is 5000 and DA is 1500, making a total of 6500, you have to mention 6500 as the amount of wages.
c) Column No. 3 - EPF 12% - For example, as the same above, from 6500, you have to calculate 12%, which will be 780.
d) Column 2 & 3 will be employee share, and 4 & 5 will be employer share. Employer's share of 12% will be classified into two ways; 3.67% will be accounted in EPF, and the remaining 8.33% will be accounted in the Pension fund. For example, if 6500 is your employee's basic and DA, the employer's contribution will be 12%:
6500 * 3.67% = 239
6500 * 8.33% = 541
e) Column 6. Refund of advance - If an employee works for more than seven years, he/she is eligible for an advance in PF. In that case, if you have refunded the advance, you have to mention the advance details.
f) Column 7. No. of days/Period of non-contributing service - If the employee had any break in service, you have to mention it; otherwise, there is no need. For example, if the employee had a break in service due to illness or an accident and came back after 1 or 2 months, it will be treated as a break in the employee's service.
I hope your doubts have been cleared.
Warmest Regards,
Mohan M.S
From India, Madras
Acknowledge(0)Amend(0)
Dear Sara,
Professional Tax may differ from state to state and municipality to municipality.
The Profession Tax assessment and collection come under the provision of tax on professions, trades, callings, and employments, under the Tamil Nadu Municipal Laws (Second Amendment) Act 1998. Profession Tax is a significant source of income next to Property Tax. The Profession Tax assessment is calculated based on the Half-Yearly gross income for the following categories:
- Individuals
- Private Establishments
- Salaried People (Central and State Govt.)
- Companies
Every company transacting business and every person engaged actively or otherwise in any Profession, Trade, Calling, and Employment within the Chennai Corporation city limits has to pay half-yearly Profession Tax, as per section 138C of Tamil Nadu Municipal Laws Second Amendment Act 59 of 1998. The tax rates are given below in the table in Form-2. For the assessment of Profession Tax, one has to make an application for registration. The Corporation of Chennai will assign a permanent number in the style of PTNAN.
Online computerization of Profession Tax and payment of Profession Tax through online channels are to be initiated. They can also check the status of payment through the website.
Based on the gross income declared, the Half-Yearly Profession Tax will be calculated as per the table given below:
The below table is for Chennai,
Sl.No. Average Half-Yearly Income Half-Yearly Profession Tax
1 Up to Rs. 21,000/- - NIL
2 Rs. 21,001/- to Rs. 30,000/- - Rs. 75/-
3 Rs. 30,001/- to Rs. 45,000/- - Rs. 188/-
4 Rs. 45,001/- to Rs. 60,000/- - Rs. 390/-
5 Rs. 60,001/- to Rs. 75,000/- - Rs. 585/-
6 Rs. 75,001/- and above - - Rs. 810/-
For example, if an employee earns 10,000/- per month, it means he will be earning 60,000/- in six months. He has to pay 390/- as a professional Tax in half-yearly.
With the help of the above table, we can calculate the Professional Tax.
Warmest Regards,
Mohan M.S
From India, Madras
Acknowledge(0)Amend(0)
Professional Tax may differ from state to state and municipality to municipality.
The Profession Tax assessment and collection come under the provision of tax on professions, trades, callings, and employments, under the Tamil Nadu Municipal Laws (Second Amendment) Act 1998. Profession Tax is a significant source of income next to Property Tax. The Profession Tax assessment is calculated based on the Half-Yearly gross income for the following categories:
- Individuals
- Private Establishments
- Salaried People (Central and State Govt.)
- Companies
Every company transacting business and every person engaged actively or otherwise in any Profession, Trade, Calling, and Employment within the Chennai Corporation city limits has to pay half-yearly Profession Tax, as per section 138C of Tamil Nadu Municipal Laws Second Amendment Act 59 of 1998. The tax rates are given below in the table in Form-2. For the assessment of Profession Tax, one has to make an application for registration. The Corporation of Chennai will assign a permanent number in the style of PTNAN.
Online computerization of Profession Tax and payment of Profession Tax through online channels are to be initiated. They can also check the status of payment through the website.
Based on the gross income declared, the Half-Yearly Profession Tax will be calculated as per the table given below:
The below table is for Chennai,
Sl.No. Average Half-Yearly Income Half-Yearly Profession Tax
1 Up to Rs. 21,000/- - NIL
2 Rs. 21,001/- to Rs. 30,000/- - Rs. 75/-
3 Rs. 30,001/- to Rs. 45,000/- - Rs. 188/-
4 Rs. 45,001/- to Rs. 60,000/- - Rs. 390/-
5 Rs. 60,001/- to Rs. 75,000/- - Rs. 585/-
6 Rs. 75,001/- and above - - Rs. 810/-
For example, if an employee earns 10,000/- per month, it means he will be earning 60,000/- in six months. He has to pay 390/- as a professional Tax in half-yearly.
With the help of the above table, we can calculate the Professional Tax.
Warmest Regards,
Mohan M.S
From India, Madras
Acknowledge(0)Amend(0)
Thank you, Mohan, sir. Your information is very useful.
One more request with you, sir - is there a website to check the amount available in our EPF account? Also, how can we verify if the organization is remitting our and the employer's contributions to the PF or not?
Regards,
Austin
From India, Bangalore
Acknowledge(0)Amend(0)
One more request with you, sir - is there a website to check the amount available in our EPF account? Also, how can we verify if the organization is remitting our and the employer's contributions to the PF or not?
Regards,
Austin
From India, Bangalore
Acknowledge(0)Amend(0)
Hi,
I am joining a new company where there is no PF account, and I want to introduce PF in that organization. Can anybody guide me on how to introduce PF in an organization? Please reply to me soon.
Regards,
smoronika@yahoo.co.in
From India, Visakhapatnam
Acknowledge(0)Amend(0)
I am joining a new company where there is no PF account, and I want to introduce PF in that organization. Can anybody guide me on how to introduce PF in an organization? Please reply to me soon.
Regards,
smoronika@yahoo.co.in
From India, Visakhapatnam
Acknowledge(0)Amend(0)
Mr Mohan, thanks for the detailed checklist. Can you please provide a site which gives such detailed procedures of compliance ESIC & gratuity too? Thanks
From India, Surat
Acknowledge(0)Amend(0)
From India, Surat
Acknowledge(0)Amend(0)
Dear Mr. Austin,
You can learn about the contributions made by employees as well as employers on the following website: www.epfindia.com.
Warmest Regards,
Mohan M. S
From India, Madras
Acknowledge(0)Amend(0)
You can learn about the contributions made by employees as well as employers on the following website: www.epfindia.com.
Warmest Regards,
Mohan M. S
From India, Madras
Acknowledge(0)Amend(0)
Thank you for providing detailed information.
I have changed my job and already transferred my PF account. Will my EPS-95 account automatically transfer with PF, or do I need to fill out separate forms?
Brijen Bhavsar
From India, Bhopal
Acknowledge(0)Amend(0)
I have changed my job and already transferred my PF account. Will my EPS-95 account automatically transfer with PF, or do I need to fill out separate forms?
Brijen Bhavsar
From India, Bhopal
Acknowledge(0)Amend(0)
Dear Sir and other fellow members,
Can you please explain the same with a different amount like Basic + DA = 12000? What will be the amount under different heads? Kindly post ASAP. Thanks in advance.
Regards,
Priyanka Sahni
From India, Mumbai
Acknowledge(0)Amend(0)
Can you please explain the same with a different amount like Basic + DA = 12000? What will be the amount under different heads? Kindly post ASAP. Thanks in advance.
Regards,
Priyanka Sahni
From India, Mumbai
Acknowledge(0)Amend(0)
Respected Mr Mohan, If Possible, plz provide such type of information on ESIC also. It would be helpful for all HR memberes. Regards Ram Mohan Prajapati
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Dear Sir,
Can you please tell me if a person changes his job, will his ESIC number change, or can he transfer his number to the new company he joins? If he can transfer, how can he do that? Please let me know.
Regards,
From India, Pune
Acknowledge(0)Amend(0)
Can you please tell me if a person changes his job, will his ESIC number change, or can he transfer his number to the new company he joins? If he can transfer, how can he do that? Please let me know.
Regards,
From India, Pune
Acknowledge(0)Amend(0)
Dear Mr.Prajaktaduble, Like PF you cannot transfer the account in ESIC.You have to open the new account in your present company. Warmest Regards, Mohan.M.S
From India, Madras
Acknowledge(0)Amend(0)
From India, Madras
Acknowledge(0)Amend(0)
Hi Mohan,
Your contribution on PF has been awesome. Thank you.
I have one question regarding the same. I had been working at IBM Kolkata from 3rd Nov. 2005 to 12th Dec. 2006. However, I left the organization without serving the notice period, and now I am working in Bangalore. When leaving the organization, I did not fill out any PF account closure form or any PF-related form. Now, I wish to withdraw my PF. Can anyone be kind enough to tell me the procedures to withdraw my PF in this scenario?
Thanks in advance,
Alex
From India, Belgaum
Acknowledge(0)Amend(0)
Your contribution on PF has been awesome. Thank you.
I have one question regarding the same. I had been working at IBM Kolkata from 3rd Nov. 2005 to 12th Dec. 2006. However, I left the organization without serving the notice period, and now I am working in Bangalore. When leaving the organization, I did not fill out any PF account closure form or any PF-related form. Now, I wish to withdraw my PF. Can anyone be kind enough to tell me the procedures to withdraw my PF in this scenario?
Thanks in advance,
Alex
From India, Belgaum
Acknowledge(0)Amend(0)
Dear Alex,
Thank you. Just fill out Form 19 for claiming the employees' provident fund dues and Form 10-C for claiming withdrawal benefits under the employee's pension scheme. Send those forms to your previous employer and request them to process the PF withdrawal form.
Warmest Regards,
Mohan M. S.
From India, Madras
Acknowledge(0)Amend(0)
Thank you. Just fill out Form 19 for claiming the employees' provident fund dues and Form 10-C for claiming withdrawal benefits under the employee's pension scheme. Send those forms to your previous employer and request them to process the PF withdrawal form.
Warmest Regards,
Mohan M. S.
From India, Madras
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.
PF Online Advance PPT.pdf
Presentation PF&ESI.ppt