Greetings all,
Please provide me with a solution to my problem. I am actually confused about whether in PF Account No. 21, the amount is calculated based on pension fund wages or PF wages.
This situation has arisen because I am currently working with a colleague who calculates the amount in Account No. 21 based on PF wages, which, from my viewpoint, is incorrect. Please provide your valuable feedback.
Thank you.
From India, Delhi
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Please provide me with a solution to my problem. I am actually confused about whether in PF Account No. 21, the amount is calculated based on pension fund wages or PF wages.
This situation has arisen because I am currently working with a colleague who calculates the amount in Account No. 21 based on PF wages, which, from my viewpoint, is incorrect. Please provide your valuable feedback.
Thank you.
From India, Delhi
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Percentages are calculated on (Basic Salary + DA). Employee contribution: (12%). Employer Contribution (12% + 1.61%).
12% Bifurcation:
- 8.33% pension fund
- 3.67% Provident fund
Total 12%
1.61% Bifurcation:
- Employees' Deposit linked insurance: 0.5%
- EPF Administrative charges: 1.1%
- EDLIS Administrative charges: 0.01%
- Account 21: 0.5% of (Basic + DA) is paid by the employer towards EDLI Insurance Charges.
- Account 22: 0.01% of (Basic + DA) is paid by the employer towards EDLI Admin Charges.
- Account 2: 1.1% of (Basic + DA) is paid by the employer towards EPF Charges.
The details of various accounts of PF and detailed info on PF are attached.
Regards,
Shweta
From India, Mumbai
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7612% Bifurcation:
- 8.33% pension fund
- 3.67% Provident fund
Total 12%
1.61% Bifurcation:
- Employees' Deposit linked insurance: 0.5%
- EPF Administrative charges: 1.1%
- EDLIS Administrative charges: 0.01%
- Account 21: 0.5% of (Basic + DA) is paid by the employer towards EDLI Insurance Charges.
- Account 22: 0.01% of (Basic + DA) is paid by the employer towards EDLI Admin Charges.
- Account 2: 1.1% of (Basic + DA) is paid by the employer towards EPF Charges.
The details of various accounts of PF and detailed info on PF are attached.
Regards,
Shweta
From India, Mumbai
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This is correct upto some part. A/c. no. 21 & 22 will be caliculated on Pensionable wage i.e., max Rs.6,500/- only.
From India, Pondicherry
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From India, Pondicherry
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Respected Sir/Madam,
I have been working in an agriculture-based organization for one year. Additionally, my PF deductions have been made for the same duration. My PF number is MH/124703/1934. I would like to know how to access the details of my account. Please advise me.
Thanks & Regards,
Mr. Shinde Pradip
Mob: 9921143531
From India, Pune
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I have been working in an agriculture-based organization for one year. Additionally, my PF deductions have been made for the same duration. My PF number is MH/124703/1934. I would like to know how to access the details of my account. Please advise me.
Thanks & Regards,
Mr. Shinde Pradip
Mob: 9921143531
From India, Pune
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Dear Sir/Madam,
Inadvertently, two PF account numbers were allotted to one of our employees who has joined and left our company twice. Please note that we have deposited some amount into his previous account, even after he left.
Narayan Upadhyay
8876525452
From India, Bangalore
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Inadvertently, two PF account numbers were allotted to one of our employees who has joined and left our company twice. Please note that we have deposited some amount into his previous account, even after he left.
Narayan Upadhyay
8876525452
From India, Bangalore
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Hi Folks,
This article is nicely written to explain how statutory compliance works and what calculations are needed to derive them. Take a look.
[4 Statutory Deductions to Consider while running Payroll | FastCollab | Blog](http://www.fastcollab.com/blog/4-statutory-deductions-to-consider-while-running-payroll/)
You can further reach out to the team to understand how an online payroll management tool can make your task easier.
From India, Hyderabad
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This article is nicely written to explain how statutory compliance works and what calculations are needed to derive them. Take a look.
[4 Statutory Deductions to Consider while running Payroll | FastCollab | Blog](http://www.fastcollab.com/blog/4-statutory-deductions-to-consider-while-running-payroll/)
You can further reach out to the team to understand how an online payroll management tool can make your task easier.
From India, Hyderabad
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