I want to know about Pf Deductions from salary: Accounts, Dates, %s, etc. Also related forms in PF Act.
From India, Pune
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3From India, Pune
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Dear Kavita.. Infact not getting your exact requirements.. Anyways to know more about PF and some download forms may go through the given below link.. Regards, Amit Seth.
From India, Ahmadabad
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From India, Ahmadabad
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1. PF Percentage:
- 12% from Employee (Basic)
- 13.61% from Employer (Basic)
2. Account No. on PF Challan:
- A/C No. 1 - 3.67% Employer Share and 12% Employee Share (PF Account)
- A/C No. 2 - 1.10% Employer Share (Admin. Charges)
- A/C No. 10 - 8.33% Employer Share (Pension Scheme)
- A/C No. 21 - 0.50% Employer Share (Employee Deposit Link Insurance)
- A/C No. 22 - 0.01% Employer Share (EDLI Ins. Charges)
3. PF Challan should be deposited before the 15th of every month, but the grace period is 5 days.
4. PF Monthly return should be deposited before the 25th of every month.
I hope this helps you.
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Raj
From India, Gurgaon
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- 12% from Employee (Basic)
- 13.61% from Employer (Basic)
2. Account No. on PF Challan:
- A/C No. 1 - 3.67% Employer Share and 12% Employee Share (PF Account)
- A/C No. 2 - 1.10% Employer Share (Admin. Charges)
- A/C No. 10 - 8.33% Employer Share (Pension Scheme)
- A/C No. 21 - 0.50% Employer Share (Employee Deposit Link Insurance)
- A/C No. 22 - 0.01% Employer Share (EDLI Ins. Charges)
3. PF Challan should be deposited before the 15th of every month, but the grace period is 5 days.
4. PF Monthly return should be deposited before the 25th of every month.
I hope this helps you.
Regards,
Raj
From India, Gurgaon
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Hi!
Thank you for the details about the PF deduction. Please provide me with the complete details of deductions, including each account and specify whether the deduction is based on basic salary or gross salary. I need this information for all account numbers.
From India, Mumbai
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Thank you for the details about the PF deduction. Please provide me with the complete details of deductions, including each account and specify whether the deduction is based on basic salary or gross salary. I need this information for all account numbers.
From India, Mumbai
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Hi,
What Raj is saying is absolutely correct. PF should always be contributed on (Basic + DA) as per the Act. There are 5 accounts, as Raj stated, in which the contributions are deposited. The PF deduction for an employee is 12% of his/her (Basic + DA); however, it is contributed from the employer's side as 13.61% - (12% for the employee account + 1.61% for Admin, EDLI, etc.)
I hope this answer is satisfactory for you.
Regards
From India
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What Raj is saying is absolutely correct. PF should always be contributed on (Basic + DA) as per the Act. There are 5 accounts, as Raj stated, in which the contributions are deposited. The PF deduction for an employee is 12% of his/her (Basic + DA); however, it is contributed from the employer's side as 13.61% - (12% for the employee account + 1.61% for Admin, EDLI, etc.)
I hope this answer is satisfactory for you.
Regards
From India
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Basic Wages:
"Basic Wages" means all emoluments earned by an employee while on duty, leave, or holiday with wages in accordance with the terms of the contract of employment and which are paid or payable in cash but do not include:
- The cash value of any food concession.
- Any dearness allowance (that is, all cash payments by whatever name called, paid to an employee on account of a rise in the cost of living), house rent allowance, overtime allowance, bonus, commission, or any other allowance payable to the employee in respect of employment or work done in such employment.
- Any present made by the employer.
From India, Gurgaon
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"Basic Wages" means all emoluments earned by an employee while on duty, leave, or holiday with wages in accordance with the terms of the contract of employment and which are paid or payable in cash but do not include:
- The cash value of any food concession.
- Any dearness allowance (that is, all cash payments by whatever name called, paid to an employee on account of a rise in the cost of living), house rent allowance, overtime allowance, bonus, commission, or any other allowance payable to the employee in respect of employment or work done in such employment.
- Any present made by the employer.
From India, Gurgaon
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hi all, i want know the pf forms no and format of form, esic calaculation formula, wage formula and what is mandatory deuduction in salary slip with all baisc salary brackets pls help me
From India, Mumbai
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From India, Mumbai
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hi plz explain me 13.61% of employer PF deduction. Is the PF deduction % is fixed for every level of employee? and for every company it is same?
From India, Pune
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From India, Pune
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PF Contribution Details
Can anyone share the details on where we can get the exact idea of contributions towards PF from both the employer and employee sides? In my establishment, we have set the PF capping from both the employer's and employee's sides, i.e.,
- ₹780 from the employee side (12% on ₹6500)
- ₹885 from the employer's side (13.61% on ₹6500)
We are planning to change the PF contribution for the employee from capping at ₹6500 to the actual amount of their basic salary. Kindly confirm if this can be done. If yes, what is the procedure, and have any documents been published regarding this through PF?
Looking forward to hearing from you. Have a great day.
Regards
From India, Hyderabad
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Can anyone share the details on where we can get the exact idea of contributions towards PF from both the employer and employee sides? In my establishment, we have set the PF capping from both the employer's and employee's sides, i.e.,
- ₹780 from the employee side (12% on ₹6500)
- ₹885 from the employer's side (13.61% on ₹6500)
We are planning to change the PF contribution for the employee from capping at ₹6500 to the actual amount of their basic salary. Kindly confirm if this can be done. If yes, what is the procedure, and have any documents been published regarding this through PF?
Looking forward to hearing from you. Have a great day.
Regards
From India, Hyderabad
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can any body tell me what present PF Account wise deduction??
From India, Indore
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From India, Indore
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Dear Sir,
My EE amount is Rs 48,000, which is above the ER amount of Rs 25,000. I applied for withdrawal using forms 16 and 10C, but I only received Rs 23,000. I am seeking information as to why I received a lesser amount and wish to claim the full amount owed to me.
Please provide me with the necessary details.
Thank you.
From India, undefined
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My EE amount is Rs 48,000, which is above the ER amount of Rs 25,000. I applied for withdrawal using forms 16 and 10C, but I only received Rs 23,000. I am seeking information as to why I received a lesser amount and wish to claim the full amount owed to me.
Please provide me with the necessary details.
Thank you.
From India, undefined
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Provident Fund - Excluded Employee - Definition.pdf