The total contribution from Employer side is 13.61% out of which 8.37% goes to pension fund and 3.67% goes to provident fund. My question is where the rest of 1.61% goes? Is this 1.61% is a part of CTC or paid totally by the employer?
Pls help me out in understanding this.
From India, Delhi
Pls help me out in understanding this.
From India, Delhi
Dear Apoorva
The meaning for CTC is Cost to the Company. Whatever the company is spending for the employee, it will be considered as part of CTC. The Break up for 1.61% is, 1.1% PF Admin Charges, 0.5% EDLI Contribution and 0.01% EDLI Admin Charges.
Hope I have cleared your querry.
Wish you all the best
From India, Kumbakonam
1166The meaning for CTC is Cost to the Company. Whatever the company is spending for the employee, it will be considered as part of CTC. The Break up for 1.61% is, 1.1% PF Admin Charges, 0.5% EDLI Contribution and 0.01% EDLI Admin Charges.
Hope I have cleared your querry.
Wish you all the best
From India, Kumbakonam
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
PF Admin Charges Notification.pd f