dear frd,
As per my knowledge ,–If the BA+DA is more than 6500, then the calculation for AC 1(employer Share only) and AC 10 is as follows.
6500*3.67 i.e. 239
6500*8.33% ie, 541 common for all salary, which is above 6500.
From India, Surat
15As per my knowledge ,–If the BA+DA is more than 6500, then the calculation for AC 1(employer Share only) and AC 10 is as follows.
6500*3.67 i.e. 239
6500*8.33% ie, 541 common for all salary, which is above 6500.
From India, Surat
Hi Gyanu,
I agree with Umesh....:icon1:
But it also, depends on you, how you fill up the form? They reject the PF withdrawl forms if any mistake is done or mandatory fields are not filled up fully and properly.
We never come to know / come to know after long time or until and unless we enquire for the same, the rejection of the form. Sometimes cheques are released from PF office and due to some reason cheques gets bounced and return to the PF office. And once cheques are bounced, it is very hecticful to get checks released.
So, I would like to request to all my friends to fill up forms neatly and properly, without any mistake. Also please guide to the employees who are not aware of this thing..........
Regards,
Nitin C.
From India, Pune
I agree with Umesh....:icon1:
But it also, depends on you, how you fill up the form? They reject the PF withdrawl forms if any mistake is done or mandatory fields are not filled up fully and properly.
We never come to know / come to know after long time or until and unless we enquire for the same, the rejection of the form. Sometimes cheques are released from PF office and due to some reason cheques gets bounced and return to the PF office. And once cheques are bounced, it is very hecticful to get checks released.
So, I would like to request to all my friends to fill up forms neatly and properly, without any mistake. Also please guide to the employees who are not aware of this thing..........
Regards,
Nitin C.
From India, Pune
Filling the PF withdrawal form along with attestation, Form 3A and Xerox of Bank Passbook in case of employer submitting the PF Withdrawal. But vat are the requirements for submitting it individually....
Can anyone help?.....:confused:
Regards
Caroline M.
From India, Coimbatore
Can anyone help?.....:confused:
Regards
Caroline M.
From India, Coimbatore
Regarding PF interest calculation, it is monthly compounding and round to nearest rupee. However I shall insert an Excel Sheet in this regard. You may extend the rows (as per your requirement) and enter the the salary applicable for PF.
ABBAS.P.S, ITI LTD, PALAKKAD -678 623
Ph. +91 9447 467 667
From India, Bangalore
ABBAS.P.S, ITI LTD, PALAKKAD -678 623
Ph. +91 9447 467 667
From India, Bangalore
Hi Caroline,
Realy useful information.
I have one doubt. Please clearify it.
As you say "Out of 12% contribution from employer, 8.33% of the contribution (subject to maximum of 541 rs/month) is invested in employer pension scheme." Is there any fixed rule by the Central Govt. for the amount 541/-. Why 541/-.
Regards,
Nitin C.
From India, Pune
Realy useful information.
I have one doubt. Please clearify it.
As you say "Out of 12% contribution from employer, 8.33% of the contribution (subject to maximum of 541 rs/month) is invested in employer pension scheme." Is there any fixed rule by the Central Govt. for the amount 541/-. Why 541/-.
Regards,
Nitin C.
From India, Pune
Dear Nitin,
As per the section 3 (1) of Employees' Pension Scheme - 95, employer has to contribute 8.33% of salary to the Pension Fund. 8.33 is the percentage form of 1/12. In other words for 12 moths or one year, one month salary has to be contributed.
In EPF, statutory ceiling of salary is Rs. 6500/-. But there is provision to contribute for actual salary beyond ceiling (now Rs. 6500/-), which practically I never experienced / reported from anybody. 8.33% of 6500 is 541.
Abbas.P.S.
From India, Bangalore
As per the section 3 (1) of Employees' Pension Scheme - 95, employer has to contribute 8.33% of salary to the Pension Fund. 8.33 is the percentage form of 1/12. In other words for 12 moths or one year, one month salary has to be contributed.
In EPF, statutory ceiling of salary is Rs. 6500/-. But there is provision to contribute for actual salary beyond ceiling (now Rs. 6500/-), which practically I never experienced / reported from anybody. 8.33% of 6500 is 541.
Abbas.P.S.
From India, Bangalore
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