Can anyone tell me that is PF is calculated on Special allowance or not? If yes then please show me where is this written or from where i can get this information?
From India, Jaipur
From India, Jaipur
hi, if basic and da exceeded 6500 wat we do. in our company we are deducted only rs780 for the salary of rs.7500 is it correct?
From India, Coimbatore
1From India, Coimbatore
hi,
At time of joining, salary(Basic+da) more than Rs. 6500/-, PF contributions may not be deducted. Treated as exempted employee.
In case allready member of PF in your firm, we may restrict his salary as Rs.6500/- to recover the pf contributions.
regards
venkat
From India, Bangalore
At time of joining, salary(Basic+da) more than Rs. 6500/-, PF contributions may not be deducted. Treated as exempted employee.
In case allready member of PF in your firm, we may restrict his salary as Rs.6500/- to recover the pf contributions.
regards
venkat
From India, Bangalore
hi,
AS PER THE PF ACT SALARY CEILING for PF is 6500/- MEANS , BASIC+DA UPTO 6500/- is to be considered for PF.
12% on that is Rs780/- from Employee salary
AND matching Employers' contribution 12% devided into
8.33 % EPS .is Rs 541/-
3.67 % PF .is Rs 239
ONE CAN MAKE HIGHER CONTRIBUTIONS OVER AND ABOVE THE CEILING AMOUNT OF Rs 6500/- AND THE COMPANY CAN ALSO EQUALLY CONTRIBUTE ON THE WHOLE AMOUNT OF BASIC AND DA IF AGREED, OTHER WISE EMPLOYEE CAN CONTRIBUTE ON THE TOTAL SALARY (TAX FREE INVESTMENT)
From India, Mumbai
AS PER THE PF ACT SALARY CEILING for PF is 6500/- MEANS , BASIC+DA UPTO 6500/- is to be considered for PF.
12% on that is Rs780/- from Employee salary
AND matching Employers' contribution 12% devided into
8.33 % EPS .is Rs 541/-
3.67 % PF .is Rs 239
ONE CAN MAKE HIGHER CONTRIBUTIONS OVER AND ABOVE THE CEILING AMOUNT OF Rs 6500/- AND THE COMPANY CAN ALSO EQUALLY CONTRIBUTE ON THE WHOLE AMOUNT OF BASIC AND DA IF AGREED, OTHER WISE EMPLOYEE CAN CONTRIBUTE ON THE TOTAL SALARY (TAX FREE INVESTMENT)
From India, Mumbai
hi,
i am not agree becouse till 6500/- basic+da p.f. deduction is compulsory but above 6500/- depand on company policy, as per pf rule after 6500/- basic not coverd in pf. but company can be deduct pf. on total basic or 6500/- its not a wrong
like this
basic+da =7500/- than company deduct pf on total basic or 6500/- its ture
basic = 7500/-
If deduction on 6500/-than (12% ,8.33%,3.67% 1.1%,.5%,.01% on 6500/- )
if deduction on 7500/- than (12%,8.33%,3.67%,1.1%,.5%,.01% on 7500/- but share in 8.33% on 6500/-
like
basic= 7500/-
12% = 900/-
8.33%= 542/-
3.67%= 358/-
Vakil Ahmed
HR-Executive
From India, Lucknow
i am not agree becouse till 6500/- basic+da p.f. deduction is compulsory but above 6500/- depand on company policy, as per pf rule after 6500/- basic not coverd in pf. but company can be deduct pf. on total basic or 6500/- its not a wrong
like this
basic+da =7500/- than company deduct pf on total basic or 6500/- its ture
basic = 7500/-
If deduction on 6500/-than (12% ,8.33%,3.67% 1.1%,.5%,.01% on 6500/- )
if deduction on 7500/- than (12%,8.33%,3.67%,1.1%,.5%,.01% on 7500/- but share in 8.33% on 6500/-
like
basic= 7500/-
12% = 900/-
8.33%= 542/-
3.67%= 358/-
Vakil Ahmed
HR-Executive
From India, Lucknow
1) P.F. Deducted on Basic + D.A + Cash value of Food Allowance @ 12%. It is a statutory deduction. D.A is provided only in government departments. Private companies generally do not give Daily Allowance to its employees.
2) Company pays P.F on either actual basic or Capped Basic. Capped basic decided depend on Company rules it is not restricted. It’s applicable those employee basic exceeds Rs. 6500/- only.
3) Employers and Employee Contribution is equal in P.F which 12%. This means 12% Contribution from Employee and 12% Contribution from Employer. Company contribution is split into two parts. 8.33 % on Family pension Fund and 3.67 % on Employee Provident Fund.
4) Employer also needs to pay additional charges on every month over and above PF Company Contribution. The break up is
1.1% P.F Administration Charges,
0.5 % on Employee Deposit Linked Insurance (E.D. L.I) and
0.01% E.D.L.I Administration Charges.
From India, Jaipur
2) Company pays P.F on either actual basic or Capped Basic. Capped basic decided depend on Company rules it is not restricted. It’s applicable those employee basic exceeds Rs. 6500/- only.
3) Employers and Employee Contribution is equal in P.F which 12%. This means 12% Contribution from Employee and 12% Contribution from Employer. Company contribution is split into two parts. 8.33 % on Family pension Fund and 3.67 % on Employee Provident Fund.
4) Employer also needs to pay additional charges on every month over and above PF Company Contribution. The break up is
1.1% P.F Administration Charges,
0.5 % on Employee Deposit Linked Insurance (E.D. L.I) and
0.01% E.D.L.I Administration Charges.
From India, Jaipur
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