I was getting 7500 Rs. take-home salary in my previous job, but there was no PF deduction, sort of thing. Now, I came to know that PF is deducted on a minimum of 6500 Rs. Can anybody explain this? I am confused.
From India, Bharat
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From India, Bharat
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Mr. Mathur P,
PF wage slab is Rs. 6500 where PF wage includes: Basic+DA+RA.
Example: Actual salary say: 7500 (fixed by company), basic percentage 50% of actual salary or salary you received with OT or other allowances if may vary. Then, Basic of your salary: (50/100)*7500 = 3750.
Now, your PF wage: 3750. Employee PF contribution rates: 12%, Employer PF contribution rate: 3.67%, Employer Pension contribution rate: 8.33%.
Thus, your (Employee) PF contribution rate only deducted from your PF wage 3750 which is (12/100)*3750 = 450.
Please go through your Basic of salary and percentiles of PF of related rules of scheduled industries/factories/establishments of your state rules of factories since percentages vary for sick industries, among others.
Regards, Kalyan
From India, Bangalore
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1PF wage slab is Rs. 6500 where PF wage includes: Basic+DA+RA.
Example: Actual salary say: 7500 (fixed by company), basic percentage 50% of actual salary or salary you received with OT or other allowances if may vary. Then, Basic of your salary: (50/100)*7500 = 3750.
Now, your PF wage: 3750. Employee PF contribution rates: 12%, Employer PF contribution rate: 3.67%, Employer Pension contribution rate: 8.33%.
Thus, your (Employee) PF contribution rate only deducted from your PF wage 3750 which is (12/100)*3750 = 450.
Please go through your Basic of salary and percentiles of PF of related rules of scheduled industries/factories/establishments of your state rules of factories since percentages vary for sick industries, among others.
Regards, Kalyan
From India, Bangalore
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Hello Kalyan... u hv told me the pf amount but they wr not deducting it. i was getting 7500 in hand. Hello Stephen, It was a big group with different branches. In my branch,thr wr at least 20 people.
From India, Bharat
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From India, Bharat
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Dear All,
I have started my career as an HR Assistant, but due to a lack of functional knowledge, I have again joined a company as a Recruitment Trainee. What should I do at this stage of my career? What about working at some outsourcing firms like Adecco, Ikya, Manpower, Teamlease, etc.?
Regards
From India, Delhi
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I have started my career as an HR Assistant, but due to a lack of functional knowledge, I have again joined a company as a Recruitment Trainee. What should I do at this stage of my career? What about working at some outsourcing firms like Adecco, Ikya, Manpower, Teamlease, etc.?
Regards
From India, Delhi
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Dear Ajeet Kumar,
Well, you haven't depicted your qualifications. HR today has a very broad inner meaning as its consolidation has grown vast rather than the prior personnel management. To make a career in HR, there is no shortcut or smart method; you must progress from one step of its career to another. Please post your qualifications and your areas of interest - Recruitment: Technical/IT; Non-technical recruitment; IR domains, welfare, and admin domains, which mean personnel aspect; and T&D and HRD aspects. All we need in HR is strong endurance and greater will; this will lead to a lucrative career. It's a raw fact. The HR forum is here to help each other.
Regards,
Kalyan
From India, Bangalore
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Well, you haven't depicted your qualifications. HR today has a very broad inner meaning as its consolidation has grown vast rather than the prior personnel management. To make a career in HR, there is no shortcut or smart method; you must progress from one step of its career to another. Please post your qualifications and your areas of interest - Recruitment: Technical/IT; Non-technical recruitment; IR domains, welfare, and admin domains, which mean personnel aspect; and T&D and HRD aspects. All we need in HR is strong endurance and greater will; this will lead to a lucrative career. It's a raw fact. The HR forum is here to help each other.
Regards,
Kalyan
From India, Bangalore
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Mr. Mathur,
In your previous job, you mentioned that your take-home salary was Rs. 7500. Are you currently in the same position and profession? Have you ever received your payslip? You mentioned working in a branch, which could be a commercial establishment connected to the Head Office/Factory. However, you haven't specified the type of company you work for.
EPF regulations may not apply to an establishment that falls under the coverage of the Shops and Establishments Act of 1996 or earlier, especially if the establishment, at the time of registration, had a workforce of less than 10 and did not register with EPFO subsequently.
I can assist by providing information related to your company, such as factories, seasonal or non-seasonal, Head Office, shops, warehouses, and branches. This is crucial as we will be discussing Business Laws and Labor Laws. Stay connected for further assistance.
Regards,
Kalyan
From India, Bangalore
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In your previous job, you mentioned that your take-home salary was Rs. 7500. Are you currently in the same position and profession? Have you ever received your payslip? You mentioned working in a branch, which could be a commercial establishment connected to the Head Office/Factory. However, you haven't specified the type of company you work for.
EPF regulations may not apply to an establishment that falls under the coverage of the Shops and Establishments Act of 1996 or earlier, especially if the establishment, at the time of registration, had a workforce of less than 10 and did not register with EPFO subsequently.
I can assist by providing information related to your company, such as factories, seasonal or non-seasonal, Head Office, shops, warehouses, and branches. This is crucial as we will be discussing Business Laws and Labor Laws. Stay connected for further assistance.
Regards,
Kalyan
From India, Bangalore
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