Gayatri,
We cannot say that all are not the same. Few are very traditional in nature, and they love to save as much as they can. Moreover, if an employee chooses the 1st option, the employer is also liable to contribute the same amount to the PF Dept. The employee has the right to choose. But in another sense, it is almost the same for the employer as both contributions are adjusted in CTC.
From India, Visakhapatnam
3We cannot say that all are not the same. Few are very traditional in nature, and they love to save as much as they can. Moreover, if an employee chooses the 1st option, the employer is also liable to contribute the same amount to the PF Dept. The employee has the right to choose. But in another sense, it is almost the same for the employer as both contributions are adjusted in CTC.
From India, Visakhapatnam
Dear Sir, My basic pay is restricted to Rs.6500/-. Can i increase my basic pay to facilitate more PF contribution.
From India, Chandigarh
From India, Chandigarh
Hi Girish,
As per the PF Act, the employee's contribution is 12% of the basic salary, and the employer's contribution is 13.61%, including administrative charges. An employee can contribute more than 12% of the basic salary based on their interest, but there is a maximum ceiling amount for employers to contribute to PF, which is (Basic+DA) = 6500/-. Sometimes, an employer may set their ceiling amount at 7500/-, but that is based on the employer's interest.
As you mentioned, the employer is deducting 996 as PF. This indicates they are deducting your contribution. If they intend to deduct 996 as PF, your basic should be 8300/-. First, you can review your salary breakup. If you find that your basic is not 8300/-, ask your HR to explain the breakup.
Regards, Bhargav P
Hello Girish,
PF calculation is based on the basic salary. What is your basic salary? 12% of your basic is the PF deduction. If your basic is 8300, then 12% of it is 996.
Regards, Somashekara
From India, Madras
As per the PF Act, the employee's contribution is 12% of the basic salary, and the employer's contribution is 13.61%, including administrative charges. An employee can contribute more than 12% of the basic salary based on their interest, but there is a maximum ceiling amount for employers to contribute to PF, which is (Basic+DA) = 6500/-. Sometimes, an employer may set their ceiling amount at 7500/-, but that is based on the employer's interest.
As you mentioned, the employer is deducting 996 as PF. This indicates they are deducting your contribution. If they intend to deduct 996 as PF, your basic should be 8300/-. First, you can review your salary breakup. If you find that your basic is not 8300/-, ask your HR to explain the breakup.
Regards, Bhargav P
Hello Girish,
PF calculation is based on the basic salary. What is your basic salary? 12% of your basic is the PF deduction. If your basic is 8300, then 12% of it is 996.
Regards, Somashekara
From India, Madras
Dear Sir,
Please provide me with any specific rate of HRA calculation that is reasonable under the rules and regulations. Although the standard rate of HRA calculation is 50% for metro cities and 40% for other cities, some companies or organizations calculate rates such as 20%, 25%, 26%, 30%, or even 80%. I am confused about how and on what basis they calculate these rates. Does it depend on the company and their nature for determining the HRA rate?
Please suggest me.
Thank you.
From India, New Delhi
Please provide me with any specific rate of HRA calculation that is reasonable under the rules and regulations. Although the standard rate of HRA calculation is 50% for metro cities and 40% for other cities, some companies or organizations calculate rates such as 20%, 25%, 26%, 30%, or even 80%. I am confused about how and on what basis they calculate these rates. Does it depend on the company and their nature for determining the HRA rate?
Please suggest me.
Thank you.
From India, New Delhi
Dear Lalit,
When you leave a company, you can withdraw your PF amount after 2 months by filling out a PF withdrawal form. This form is readily available at any good stationery shop. Obtain the form, complete all the necessary details, and affix 2 revenue stamps. Have it signed by the authorized signatory of the company you left, who will fill in all the required information. Subsequently, visit the PF office in Wazirpur if you are in Delhi. Submit the form, and approximately 1 1/2 to 2 months later, you will receive a check deposited into your bank account.
Thank you.
From Australia
When you leave a company, you can withdraw your PF amount after 2 months by filling out a PF withdrawal form. This form is readily available at any good stationery shop. Obtain the form, complete all the necessary details, and affix 2 revenue stamps. Have it signed by the authorized signatory of the company you left, who will fill in all the required information. Subsequently, visit the PF office in Wazirpur if you are in Delhi. Submit the form, and approximately 1 1/2 to 2 months later, you will receive a check deposited into your bank account.
Thank you.
From Australia
Hi Members,
I totally disagree. As per my knowledge, PF calculation goes as below:
Employee PF = 12% of Actual Basic (regardless of wage ceiling of Rs. 6500/-)
Employer PF = 8.33% of Basic salary or maximum Rs. 541/- (Pension Fund)
3.67% of Basic salary (limited up to Rs. 6500/-, if more than Rs. 6500/-, then it will employee provident fund contribution - Rs. 541/-)
1.1% of Basic EPF Admin Charges, Contributed by Employer
0.5% of Basic EDLI account, Contributed by Employer
0.01% of Basic EDLI Admin Charges, Contributed by Employer
Employee's contribution of 12% goes to Provident Fund account and Employer's contribution of 13.61% goes as mentioned above. On successful completion of 6 months, the employee is eligible to claim Pension amount, i.e., 8.33% of the employer's share of contribution (Note: interest not applicable on Pension Fund).
Correct me if I am wrong.
Regards,
Asgar Ali
From India, Madras
I totally disagree. As per my knowledge, PF calculation goes as below:
Employee PF = 12% of Actual Basic (regardless of wage ceiling of Rs. 6500/-)
Employer PF = 8.33% of Basic salary or maximum Rs. 541/- (Pension Fund)
3.67% of Basic salary (limited up to Rs. 6500/-, if more than Rs. 6500/-, then it will employee provident fund contribution - Rs. 541/-)
1.1% of Basic EPF Admin Charges, Contributed by Employer
0.5% of Basic EDLI account, Contributed by Employer
0.01% of Basic EDLI Admin Charges, Contributed by Employer
Employee's contribution of 12% goes to Provident Fund account and Employer's contribution of 13.61% goes as mentioned above. On successful completion of 6 months, the employee is eligible to claim Pension amount, i.e., 8.33% of the employer's share of contribution (Note: interest not applicable on Pension Fund).
Correct me if I am wrong.
Regards,
Asgar Ali
From India, Madras
Dear all,
Employee contribution is 12% of the basic salary, and it will be expandable up to 20% either less than 6500 or greater than 6500.
Employer contribution is 13.61%. The pension base is 6500, which is the basic ceiling limit. The employer contribution consists of 8.33% (i.e., 541) + 3.67% of the basic salary (i.e., the remaining amount of the employee contribution of 12%) + administrative charges of 1.10% of the basic salary + EDLI charges of 0.50% of the pension base + 0.01% of the pension base.
For more details, please email me at devdubey09 or call me at 09860374690.
From India, Gurgaon
Employee contribution is 12% of the basic salary, and it will be expandable up to 20% either less than 6500 or greater than 6500.
Employer contribution is 13.61%. The pension base is 6500, which is the basic ceiling limit. The employer contribution consists of 8.33% (i.e., 541) + 3.67% of the basic salary (i.e., the remaining amount of the employee contribution of 12%) + administrative charges of 1.10% of the basic salary + EDLI charges of 0.50% of the pension base + 0.01% of the pension base.
For more details, please email me at devdubey09 or call me at 09860374690.
From India, Gurgaon
Hi all,
It has been customary for all employers across all industries, irrespective of fame and banner in society, to err or commit irreparable damages in remittance, entries, and returns. According to statistics, less than 15% of employers strictly follow compliance. What about the rest?
So, it's time to abolish such Social Security Acts and instead directly remit the EPF/ERPF into individuals' bank accounts under PF Recurring Deposit linked to the employee's salary account. The annual returns alone should be filed with the PF office. This would make the PF offices less crowded and hassle-free. Unless a new idea is activated, EPF has no purpose to serve, and as usual, a whopping unclaimed amount of money, to the tune of Rs.1200 crore, will lie in the safe vault of EPF without being utilized or approved by Parliament for other investments.
Regards,
Chandru
From India, Madras
It has been customary for all employers across all industries, irrespective of fame and banner in society, to err or commit irreparable damages in remittance, entries, and returns. According to statistics, less than 15% of employers strictly follow compliance. What about the rest?
So, it's time to abolish such Social Security Acts and instead directly remit the EPF/ERPF into individuals' bank accounts under PF Recurring Deposit linked to the employee's salary account. The annual returns alone should be filed with the PF office. This would make the PF offices less crowded and hassle-free. Unless a new idea is activated, EPF has no purpose to serve, and as usual, a whopping unclaimed amount of money, to the tune of Rs.1200 crore, will lie in the safe vault of EPF without being utilized or approved by Parliament for other investments.
Regards,
Chandru
From India, Madras
dear lalit, Your pf no. is 10825 and your establishment code is pn-2820. If you are working with this organisation you must know the name of this.
From India, Gurgaon
From India, Gurgaon
Dear Girish,
I agree with Manasi. To my knowledge, as all seniors have said, it's the same as what I heard on PF calculation. It depends on the company whether they use limited PF or unlimited PF calculations. In your company, it's unlimited PF calculation.
I hope your doubt got cleared by adding my point as well.
From India, Madras
I agree with Manasi. To my knowledge, as all seniors have said, it's the same as what I heard on PF calculation. It depends on the company whether they use limited PF or unlimited PF calculations. In your company, it's unlimited PF calculation.
I hope your doubt got cleared by adding my point as well.
From India, Madras
Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
