Hi all.
If a Person Basic is 15,000/- rupees per month, What was his PF Contribution as per revised Structure, I.e. If the PF Contribution calculated based on 15,000/-? (15,000*12%) So, the salary of employee will increase? or the same. Please advice regarding this.
From India, Coimbatore
20If a Person Basic is 15,000/- rupees per month, What was his PF Contribution as per revised Structure, I.e. If the PF Contribution calculated based on 15,000/-? (15,000*12%) So, the salary of employee will increase? or the same. Please advice regarding this.
From India, Coimbatore
Hi Amirtha Varshini
Employee salary will remain same. If the basic is 15000 then there will be more deduction. His PF deduction will be 15000*12%=1800/-. Only thing is net salary will reduce compared to earlier net take home & even company contribution to PF will increase
Regards
Jeevarathnam P
From India, Bangalore
Employee salary will remain same. If the basic is 15000 then there will be more deduction. His PF deduction will be 15000*12%=1800/-. Only thing is net salary will reduce compared to earlier net take home & even company contribution to PF will increase
Regards
Jeevarathnam P
From India, Bangalore
Hi, Another query arises. If Person Gross is 15,000/- his, basic pay 6000/- his, pf calculated from 6000/- or 15,000/-? Please do clarify
From India, Coimbatore
From India, Coimbatore
Hi Amritha,
It simply means that the employee whose Basic salary is above 6500 and 15000 or less shall be included in the Pf scheme. It does not mean that you have to increase the salary.
Earlier it was optional for the employer to deduct the PF of those employees whose basic salary is above 6500. But most of the companies do cut PF on whatever the basic salary is. Now it is mandatory to Deduct the PF whose basic salary is between 6500 and 1500.
My introduction:
This is Alok(MBA HR). I am working as HR trainee at Cosmo public ltd. Even i am in a learning phase.
You could write me at
.
I would be willing to share HR knowledge and Professional networking.
Regrds.
From India, Pune
It simply means that the employee whose Basic salary is above 6500 and 15000 or less shall be included in the Pf scheme. It does not mean that you have to increase the salary.
Earlier it was optional for the employer to deduct the PF of those employees whose basic salary is above 6500. But most of the companies do cut PF on whatever the basic salary is. Now it is mandatory to Deduct the PF whose basic salary is between 6500 and 1500.
My introduction:
This is Alok(MBA HR). I am working as HR trainee at Cosmo public ltd. Even i am in a learning phase.
You could write me at
I would be willing to share HR knowledge and Professional networking.
Regrds.
From India, Pune
Hi Kulkarni, I agree your views am asking that if a person gross is 15,000/- basic will comes under 6000/- , PF will be deducted from 6,000/- . Above 15,000/- they can exempted from it.
From India, Coimbatore
From India, Coimbatore
Hi,
Yes. if the basic salry is above 15000 , they can be exempted for the diferrence in the amount. But most organization do deduct PF even if the basic is above 15000. May i have your email id
Thanks & regdrs.
From India, Pune
Yes. if the basic salry is above 15000 , they can be exempted for the diferrence in the amount. But most organization do deduct PF even if the basic is above 15000. May i have your email id
Thanks & regdrs.
From India, Pune
Hi Amirtha Varshini If the gross is 15000 & Basic+DA is 6000 then PF shall be calculated on 6000/- only
From India, Bangalore
From India, Bangalore
Hi Amrutha,
Updates! Updates!. on above PF revision.
Those employees whose basic salary is above 15,000 have now the option to put all the PF contribution into PF acount insetad of putting the 3.67% in pension account. Same option is available for employer contribution towards the above category employees. If am mistaken please do correct me.
What HR fucntions do you handle.
Regards.
From India, Pune
Updates! Updates!. on above PF revision.
Those employees whose basic salary is above 15,000 have now the option to put all the PF contribution into PF acount insetad of putting the 3.67% in pension account. Same option is available for employer contribution towards the above category employees. If am mistaken please do correct me.
What HR fucntions do you handle.
Regards.
From India, Pune
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Employer-PF-res trict to wages of Rs 6500.pdf