Dear KKJ,
as far as pension fund is concerned an employer contribute 12% of basic+DA OUT OF WHICH 8.33% (of basic+DA) goes to pension fund. 8.33% of basic+DA or 541 Rs. whichever is less goes to pension fund i mean if 8.33% of basic+DA is more than 541 Rs. then only 541 rs will go to pension fund and rest of the amount will go to pf account.
Regards
Bandini
From India, Delhi
1as far as pension fund is concerned an employer contribute 12% of basic+DA OUT OF WHICH 8.33% (of basic+DA) goes to pension fund. 8.33% of basic+DA or 541 Rs. whichever is less goes to pension fund i mean if 8.33% of basic+DA is more than 541 Rs. then only 541 rs will go to pension fund and rest of the amount will go to pf account.
Regards
Bandini
From India, Delhi
Just take an example...
Suppose A income is 6000/-
then 6000*12%= 720 it will be divided in 8.33% & 3.67%
Pension(500) Provident fund(220)
If A income is 10000/-
then 10000*12% =1200 since pension has a ceiling of Rs. 541/-
But 8.33% of 10000 is 833 but it will be ceiled at 541
remaining rs. will go to Provident Fund 1200-541= 659
i thnk it will be easy for u now
From India, Calcutta
Suppose A income is 6000/-
then 6000*12%= 720 it will be divided in 8.33% & 3.67%
Pension(500) Provident fund(220)
If A income is 10000/-
then 10000*12% =1200 since pension has a ceiling of Rs. 541/-
But 8.33% of 10000 is 833 but it will be ceiled at 541
remaining rs. will go to Provident Fund 1200-541= 659
i thnk it will be easy for u now
From India, Calcutta
Dear KKJ
Bandini & Ritesh Jain are 100% True
i Would like to attach Excel format for eassy undersand and cound pension fund and COMBINED CHALAN OF A/C. 1, 2, 10, 21 & 22
also u can call my number for more Details.
Regards,
Uttam
9099287355
From India, Jamnagar
Bandini & Ritesh Jain are 100% True
i Would like to attach Excel format for eassy undersand and cound pension fund and COMBINED CHALAN OF A/C. 1, 2, 10, 21 & 22
also u can call my number for more Details.
Regards,
Uttam
9099287355
From India, Jamnagar
Dear Uttam Sir,
Can you explain me when an employee is eligible to get pension from pension fund as well as if an employee wants to withdraw his pf will he get his pension fund amount or not please explain it to me.
Regards,
Bandini
From India, Delhi
Can you explain me when an employee is eligible to get pension from pension fund as well as if an employee wants to withdraw his pf will he get his pension fund amount or not please explain it to me.
Regards,
Bandini
From India, Delhi
hello bandini
employee is eligible for pension once he will completed 10 years of service or age 58 years
if employee resigned from the service below 10 years he will get pf and pension, but above 10 years he will get pf and Scheme certificate.
based on the scheme certificate he will get pention ater completion of 58 years
From India, Madras
employee is eligible for pension once he will completed 10 years of service or age 58 years
if employee resigned from the service below 10 years he will get pf and pension, but above 10 years he will get pf and Scheme certificate.
based on the scheme certificate he will get pention ater completion of 58 years
From India, Madras
Dear Bandani,
Mr Venkatesh is absolutely correct. only to add few thing i.e
1) You can transfer your pension fund from company to company & complete 10 years
2) 8.33 % of Rs 6500 (Basic+DA+FIXED) i.e Rs 541 will be deposited in Pension Fund (monthwise) maximum
3) Employee having higher basic:- Few companies are still deducting the PF (12% employer contribution)& depositing 8.33 % in pension fund but at the time of withdrawal the rest amount transfer to Pf account & withdrawee will get the rest amount throungh Pf Fund.
From India, Patna
Mr Venkatesh is absolutely correct. only to add few thing i.e
1) You can transfer your pension fund from company to company & complete 10 years
2) 8.33 % of Rs 6500 (Basic+DA+FIXED) i.e Rs 541 will be deposited in Pension Fund (monthwise) maximum
3) Employee having higher basic:- Few companies are still deducting the PF (12% employer contribution)& depositing 8.33 % in pension fund but at the time of withdrawal the rest amount transfer to Pf account & withdrawee will get the rest amount throungh Pf Fund.
From India, Patna
pls explain me the calculation of pension amount after compliting there service trilok chand personnel officer
From India, Gurgaon
From India, Gurgaon
pension amt = pensionable salary / 70 * service multiful factor ( as per table D) Note:- service before 15.11.1995 take table B multiful factor
From India, Madras
From India, Madras
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PF guidleines for Pension fund.pdf