One of our employees worked only for 20 days in the month of June and resigned. His basic salary is 20,000 INR. Therefore, in July, when I paid his salary, I only paid 13,333 INR as the basic salary. Unfortunately, I mistakenly paid his Provident Fund (PF) contribution as 2,400 INR instead of the correct amount of 1,560 INR. How can I rectify this mistake? Can I adjust his future salary to compensate for the excess PF payment so that the employee does not incur any losses? Are there any statutory issues I should be aware of?
Please advise me.
Regards,
Mt. Carmel
From India, Mumbai
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1Please advise me.
Regards,
Mt. Carmel
From India, Mumbai
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dear carmel You can less the extra amount from next month challan, but remember to adjust this amount in your annual return. pankaj
From India, Mumbai
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From India, Mumbai
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Hi Mt.Carmel, Yes, you can adjust the excess amount remitted in subsequent month PF Contribution. While doing so, just modify Form -12A accordingly. 1. Actual Amount Rs.5600/-
From Australia
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From Australia
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Yes, you can adjust the excess amount remitted in the subsequent month's PF Contribution. While doing so, just modify Form 12A accordingly.
1. Actual Amount Rs. 5,600/-, Remitted Rs. 6,600/- (July, 10) - Form 12A
2. Actual Amount Rs. 5,600/-, Remitted Rs. 4,600/- (Aug, 10) - Form 12A
Should you have any queries, please call me at [Phone Number Removed For Privacy Reasons].
Regards,
Pavan Kumar
From Australia
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1. Actual Amount Rs. 5,600/-, Remitted Rs. 6,600/- (July, 10) - Form 12A
2. Actual Amount Rs. 5,600/-, Remitted Rs. 4,600/- (Aug, 10) - Form 12A
Should you have any queries, please call me at [Phone Number Removed For Privacy Reasons].
Regards,
Pavan Kumar
From Australia
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PF Judgement - Bom HC - Temp employee.doc
Employee's Compensation Act-2009.pdf