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Dear Atulsingh, Go through the existing threads on EPF and project the particular area of the information you want. Otherwise it will be difficult to respond. Abbas.P.S
From India, Bangalore
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From India, Bangalore
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Hi, I have collected some information regarding PF. Might be it is help you. regards reshma.
From India, Pune
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From India, Pune
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Reshma,
Thanks for providing useful information. Please advise on the following:
1. Whether you have received the PF statement for the period 2008-2009 in your office.
2. By what time should PF statements for the period 2009-2010 be made available to employees? Is there any stipulated time mentioned in the Provident Fund act stating that statements should be provided to employees by certain dates?
3. Has the rate of interest for the period 2009-2010 been decided? If yes, what is the rate of interest? Kindly advise.
Regards,
Kumar
From India
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Thanks for providing useful information. Please advise on the following:
1. Whether you have received the PF statement for the period 2008-2009 in your office.
2. By what time should PF statements for the period 2009-2010 be made available to employees? Is there any stipulated time mentioned in the Provident Fund act stating that statements should be provided to employees by certain dates?
3. Has the rate of interest for the period 2009-2010 been decided? If yes, what is the rate of interest? Kindly advise.
Regards,
Kumar
From India
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Are you working in any concern? Any establishment employing more than 20 employees is covered under the Employees Provident Fund Act. There is a monthly return that the company has to send to the Provident Fund office where the company pays contributions on the Earn Wages of the Employees. All employees earning up to Rs. 6500 as their basic salary are entitled to PF. However, the employee has to pay 12% of their earn wages, and the rates at which the company pays contributions are detailed below:
- Employee Provident Fund: 3.67%
- Employee Pension Fund: 8.33%
- Employee Linked Deposit Scheme: 0.50%
- Administrative Charges: 1.10%
- Inspection Charges: 0.01%
From India, Silchar
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- Employee Provident Fund: 3.67%
- Employee Pension Fund: 8.33%
- Employee Linked Deposit Scheme: 0.50%
- Administrative Charges: 1.10%
- Inspection Charges: 0.01%
From India, Silchar
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Dear Atul, Here I have attached a PPT file about EPF. Hope you will get all information about EPF. Please find enclosed. B.Shreeram
From India, Pune
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From India, Pune
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Dear Atul,
The PF contribution is 12% of Basic salary from both the employee and employer. For the calculation, the maximum limit of Basic is Rs 6500/-. It means that even if the employee's basic salary is above Rs 6500/-, the employer is liable to contribute only on Rs 6500/-, that is Rs 780. However, if an employee so desires, he may voluntarily contribute more than 12%. Apart from this, an employer also has to pay some administration charges. I will explain the various accounts of the PF challan below.
A/c No 1: PF contribution Account
A/c No 2: PF Admin account
A/c No 10: EPS account
A/c No 21: EDLIS account
A/c No 22: EDLIS admin account
PF admin charge = Employer has to pay 1.1% of basic
EDLIS: Employer has to pay 0.5% of basic
EDLIS admin charge: Employer has to pay 0.01% of basic
Total additional percentage employer has to pay: 1.61% of basic
So, the employer actually has to pay 13.61% of Basic, and the employee has to pay only 12% of basic.
The employee's complete 12% goes to the PF account, while the employer's contribution of 8.33% goes to the Pension fund, and 3.67% goes to the PF fund.
I hope the above information will be helpful to you.
B. Shreeram
From India, Pune
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The PF contribution is 12% of Basic salary from both the employee and employer. For the calculation, the maximum limit of Basic is Rs 6500/-. It means that even if the employee's basic salary is above Rs 6500/-, the employer is liable to contribute only on Rs 6500/-, that is Rs 780. However, if an employee so desires, he may voluntarily contribute more than 12%. Apart from this, an employer also has to pay some administration charges. I will explain the various accounts of the PF challan below.
A/c No 1: PF contribution Account
A/c No 2: PF Admin account
A/c No 10: EPS account
A/c No 21: EDLIS account
A/c No 22: EDLIS admin account
PF admin charge = Employer has to pay 1.1% of basic
EDLIS: Employer has to pay 0.5% of basic
EDLIS admin charge: Employer has to pay 0.01% of basic
Total additional percentage employer has to pay: 1.61% of basic
So, the employer actually has to pay 13.61% of Basic, and the employee has to pay only 12% of basic.
The employee's complete 12% goes to the PF account, while the employer's contribution of 8.33% goes to the Pension fund, and 3.67% goes to the PF fund.
I hope the above information will be helpful to you.
B. Shreeram
From India, Pune
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Provident Fund - Excluded Employee - Definition.pdf