Dear Malikji,
Wanted to understand if Stipened is subject to ESI and PF (are these deductions mandatory) or they can be waived, if the stipened being paid is Rs. 5000/- a month.
This if for interns for a period of 3 - 6 months just out of college or still pusuing their education.
Regards,
C J Patel
From India, Bangalore
Wanted to understand if Stipened is subject to ESI and PF (are these deductions mandatory) or they can be waived, if the stipened being paid is Rs. 5000/- a month.
This if for interns for a period of 3 - 6 months just out of college or still pusuing their education.
Regards,
C J Patel
From India, Bangalore
dear
if someone is paid stipend as trainee as per standing orders ,than that stipend will not be wages for ESI And PF.same movement
apprentice appointed through apprentiship advisor is also exempted for PF and ESI.
in your query the student should bring proper letter from institue
and you make a proper letter for internship than they should be excluded for ESI and PF.
regards
j s malik
QUOTE=cjpatel;750398]Dear Malikji,
Wanted to understand if Stipened is subject to ESI and PF (are these deductions mandatory) or they can be waived, if the stipened being paid is Rs. 5000/- a month.
This if for interns for a period of 3 - 6 months just out of college or still pusuing their education.
Regards,
C J Patel[/QUOTE]
From India, Delhi
167if someone is paid stipend as trainee as per standing orders ,than that stipend will not be wages for ESI And PF.same movement
apprentice appointed through apprentiship advisor is also exempted for PF and ESI.
in your query the student should bring proper letter from institue
and you make a proper letter for internship than they should be excluded for ESI and PF.
regards
j s malik
QUOTE=cjpatel;750398]Dear Malikji,
Wanted to understand if Stipened is subject to ESI and PF (are these deductions mandatory) or they can be waived, if the stipened being paid is Rs. 5000/- a month.
This if for interns for a period of 3 - 6 months just out of college or still pusuing their education.
Regards,
C J Patel[/QUOTE]
From India, Delhi
Dear,
Stipened paid to those person who is not providing direct support to the organisation and organisation hire person & provided them for a social amenities means appointed person does not have permanent job & he/she does not have legal right in the organisation.
This is a consolidate amount which include your travelling,fooding,lodging,dressing,communication etc... allowances.
The amount given to the candidates is goes to company business promotion & welfare amenities.
PF & ESI dept have not considered this type of income as wages becuase this stipened is a short term earning.
You can save tax limit upto certain extends ,please consult with Tax expert and show actual expenses then you can save some amount of your tax.
Best Regards-Delhi
Sajid
From India, Delhi
Stipened paid to those person who is not providing direct support to the organisation and organisation hire person & provided them for a social amenities means appointed person does not have permanent job & he/she does not have legal right in the organisation.
This is a consolidate amount which include your travelling,fooding,lodging,dressing,communication etc... allowances.
The amount given to the candidates is goes to company business promotion & welfare amenities.
PF & ESI dept have not considered this type of income as wages becuase this stipened is a short term earning.
You can save tax limit upto certain extends ,please consult with Tax expert and show actual expenses then you can save some amount of your tax.
Best Regards-Delhi
Sajid
From India, Delhi
Hi, If your stipend falls in the taxable income limit, Tax will be deducted. Your employer can not deduct PF on your Stipend.
From India, Bangalore
From India, Bangalore
Hi,
Stipend is mainly paid in 2 different set of people, one is who were doing an Intern and other one is joined as a Trainee, for Intern there wont be any deduction at all, as it's purely meant to met their daily expenses and they would go back to their studies sfter that, for Trainees they used to deduct PF as they will be absorved to the system once they successfully completed their Trainning period.In your case what they have done is right, they will deduct PF, Income Tax(only when your stipend is more than the slab
) and Professional Tax.If in case you are not an direct hire and if you were in contract you wont get any deduction stating PF but you would have TDS, PT & IT.
Please write to me if you require anymore in detail.
Regards,
Mohammed.s
From India, Madras
Stipend is mainly paid in 2 different set of people, one is who were doing an Intern and other one is joined as a Trainee, for Intern there wont be any deduction at all, as it's purely meant to met their daily expenses and they would go back to their studies sfter that, for Trainees they used to deduct PF as they will be absorved to the system once they successfully completed their Trainning period.In your case what they have done is right, they will deduct PF, Income Tax(only when your stipend is more than the slab
) and Professional Tax.If in case you are not an direct hire and if you were in contract you wont get any deduction stating PF but you would have TDS, PT & IT.
Please write to me if you require anymore in detail.
Regards,
Mohammed.s
From India, Madras
Stipend is not a salary and u cannot claim any expemtios such as HRA, conveyance etc. And if ur a getting an handsome Stipend then the whole amount will be taxable as per the Income tax slabs. There is no exmptions allowed.
Thanks and Regards
Dinesh Bhansali
09892783763
From China
Thanks and Regards
Dinesh Bhansali
09892783763
From China
Dear Frens,
In my first job, I got a stipend of 20k with a probation of 1 year.. and HRA apprx.7200, Travel allowance:800, Basic:12000...I was told taht it is stipend...
I did not have any leaves.. no pf deduction...but professional tax of 200rs. every month..was deducted...
Was it right...
Rgrds....Krish...
From India, Bangalore
In my first job, I got a stipend of 20k with a probation of 1 year.. and HRA apprx.7200, Travel allowance:800, Basic:12000...I was told taht it is stipend...
I did not have any leaves.. no pf deduction...but professional tax of 200rs. every month..was deducted...
Was it right...
Rgrds....Krish...
From India, Bangalore
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TRADE APPRENTICE stipend.pdf