Dear Sir/Madam Please clarify whether PF will be deducted from the bonus if paid on a monthly basis by the vendor. Regards Gaurav
From India, Mumbai
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6From India, Mumbai
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Hi, No need to consider a monthly bonus for PF contribution. However, ESI will be applicable for a monthly bonus, and the payment mode is on a monthly basis. If the bonus is paid on a quarterly basis, ESI will not be applicable.
From India, Madras
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From India, Madras
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Apex Court Verdict on Payments and Provident Fund
As per the Apex Court verdict, any payments made on a regular basis, other than House Rent Allowance (HRA) (as per the definition of Basic) and production/productivity-related payments (bonus/incentive), will fall under the purview of Provident Fund (PF) and Employee State Insurance Corporation (ESIC).
Regards,
S K Bandyopadhyay (WB, Howrah)
CEO - USD HR Solutions
[Phone Number Removed For Privacy-Reasons]
[Email Removed For Privacy Reasons]
www.usdhrs.in
From India, New Delhi
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As per the Apex Court verdict, any payments made on a regular basis, other than House Rent Allowance (HRA) (as per the definition of Basic) and production/productivity-related payments (bonus/incentive), will fall under the purview of Provident Fund (PF) and Employee State Insurance Corporation (ESIC).
Regards,
S K Bandyopadhyay (WB, Howrah)
CEO - USD HR Solutions
[Phone Number Removed For Privacy-Reasons]
[Email Removed For Privacy Reasons]
www.usdhrs.in
From India, New Delhi
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PF & ESI.zip
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