In an organization, is it required to print/display the PF Employer contribution in an employee's payslip under earnings? Do we have any statutory law that states whether the employer contribution should or shouldn't be printed on payslips?
From India, Mumbai
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From India, Mumbai
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There is no law that specifies whether you should or shouldn't provide information to employees on PF contributions. In fact, every employee is aware that their contribution is 12%, while the employer's contribution is 8.33% + 3.67% + 1.61% (additional EDLI and administrative charges). To help employees better understand, the breakdown can be provided (it's up to you).
Thank you.
From India, Visakhapatnam
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995Thank you.
From India, Visakhapatnam
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Dear Friend,
Like you, many organizations and their employees have always had doubts about whether their employer deposits their EPF accumulations or not. Previously, there were no tools available, so employees always doubted their employer. Since last year, the EPF department has introduced a concept of an Employee Pass Book. It's quite similar to an individual's bank passbook where an employee can see how much contribution is deducted from his salary and how much is contributed by the employer.
Warm regards,
Umesh Chaudhary
[Email Removed For Privacy Reasons]
From India, Delhi
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Like you, many organizations and their employees have always had doubts about whether their employer deposits their EPF accumulations or not. Previously, there were no tools available, so employees always doubted their employer. Since last year, the EPF department has introduced a concept of an Employee Pass Book. It's quite similar to an individual's bank passbook where an employee can see how much contribution is deducted from his salary and how much is contributed by the employer.
Warm regards,
Umesh Chaudhary
[Email Removed For Privacy Reasons]
From India, Delhi
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EPF-Circular-da ted-23-May-2011 -Splitting-of-M inimum-Wages-fo r-the-Purpose-o f-PF-Contributi on-Not.pdf