No Tags Found!

Swathi vennala
6

Dear Seniors,
I have a query regarding pay slip.
In my company, we are deducting EPF employee and employer share form employees only (i.e we are deducting 2 shares from employees with their acceptance).
As EPF consultant suggested we have to show employer and employee share separately.If we show like that we need to add 12% in their salary,
I am confused how to prepare payslip for this.
please suggest me the best format.
Thanks & Regards.

From India, Visakhapatnam
merlaravi
6

Yes..you can show Deductions of Employee PF and employer PF Separately ..
From India, Hyderabad
fc.vadodara@nidrahotels.com
734

Here you have to deduct the Employer PF contribution from the CTC part and the said amount has to be treated as Gross Salary which will be easy for you to come out with Salary Slip.
From India, Ahmadabad
Adoni Suguresh
150

Mrs Swathi Vennila
Your query is some what is not digested by me. How you can deduct the employers share also from the emlployee which is not proper and against the scheme. The statutory contribution from the employers should be separate which attract other payments also while remitting the money to EPFO This liability belongs to employer and by employee. . Whether your employees are covered under Employees Provident Fund Scheme, 1952 or Public Provident Fund. If they are covered EPF then it is wrong and if they are requesting to deduct under PPF then it is O.K. Please note that EPF is being handled by the EPFO and PPF is dealt by nationalized banks.
You advise your consultant to study the scheme properly before he implement it.
Adoni Suguresh
Sr.Executive (Pers, Admin & Ind.Rels) Rtd
Labour Laws Consultant

From India, Bidar
Swathi vennala
6

Dear Adoni Suguresh, I got the same doubt and I spooked with my management also they are saying that they are following CTC method (Employer contribution is also part of CTC)
From India, Visakhapatnam
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.