Dear seniors/friends
i had doubt regards PF contribution. in certain conditions .
1.IF 6500 is limited for employees categories like,workers,staff,managers or can we can limit for workers .
2.can we remitted one chellan in this category .(I)6500 limitation for worker and (ii)no 6500 limitation for managers.
3.for 6 months chelan is no limitation for all workers.after 7th month some workers are asking pls limit my PF wages into 6500.IT can possible to remit in the 7th month.
From India, Chennai
i had doubt regards PF contribution. in certain conditions .
1.IF 6500 is limited for employees categories like,workers,staff,managers or can we can limit for workers .
2.can we remitted one chellan in this category .(I)6500 limitation for worker and (ii)no 6500 limitation for managers.
3.for 6 months chelan is no limitation for all workers.after 7th month some workers are asking pls limit my PF wages into 6500.IT can possible to remit in the 7th month.
From India, Chennai
Sir, As per my knowledge If you want to limit then you can because pf has not given any compulsion for this.
From India
28From India
Hi I hope this is possible. It is better to take a declaration letter from all the employees for any case
From India, Bangalore
From India, Bangalore
The PF Act stipulates that all employees drawing Wages ( basic plus DA)will be covered under the provisions of the statute. You cannot and as a pro active HR practice., should not differentiate between workers and managers. I will strongly recommend a uniform policy. Several progressive organizations allow for PF deductions on actual wages even if it exceeds the limit of the present limit of Rs,6500/- p.m.
From India, Mumbai
From India, Mumbai
Dear Poorni
You need not to limit the employee contribution to Rs. 6500/-. Let it go as saving for their future. You can restrict the employer contribution to Rs. 6500/- i.e., Rs.780/- which can be splitted into Rs.541/- as EPS and balance into Er PF.
From India, Kumbakonam
You need not to limit the employee contribution to Rs. 6500/-. Let it go as saving for their future. You can restrict the employer contribution to Rs. 6500/- i.e., Rs.780/- which can be splitted into Rs.541/- as EPS and balance into Er PF.
From India, Kumbakonam
Dear friends,
There is no compulsion on either side to go beyond Rs.6500/- without limiting at that. It's also true many employees compel offices to minimize the deduction to the extent possible in order to increase their take home pay at the cost of 'compulsory savings' in the form of PF on one reason or other, may be they are justified in some cases. I wish employers shouldn't yield to the pressure whatsoever may be their reasoning.
But for beyond Rs.6500/- is your/their choice. Should be avoided-any frequent lowering or hiking lest you will have confusion in administering them.
Of course, come to worse they can avail refundable loans or part withdrawal to the extent possible which can be facilitated on merits.
Secondly having diff.norms for diff.categories is unwelcome and might lead to kios between the groups inviting trouble to the HR. Even dual challan also not required & to be avoided
From India, Bangalore
There is no compulsion on either side to go beyond Rs.6500/- without limiting at that. It's also true many employees compel offices to minimize the deduction to the extent possible in order to increase their take home pay at the cost of 'compulsory savings' in the form of PF on one reason or other, may be they are justified in some cases. I wish employers shouldn't yield to the pressure whatsoever may be their reasoning.
But for beyond Rs.6500/- is your/their choice. Should be avoided-any frequent lowering or hiking lest you will have confusion in administering them.
Of course, come to worse they can avail refundable loans or part withdrawal to the extent possible which can be facilitated on merits.
Secondly having diff.norms for diff.categories is unwelcome and might lead to kios between the groups inviting trouble to the HR. Even dual challan also not required & to be avoided
From India, Bangalore
Dear all,
The EPF&MP Act is applied strictly up to the monthly basic+DA+food concession of Rs.6500/- and beyond that it is the discretion of employer where a person joins beyond Rs.6500/- and do not have membership earlier anywhere else duly declared in form 11. If a person who joined beyond Rs.6500/- pm and declare that he was a member to the scheme, you can not ignore his membership and bound to enroll him a member at-least up to the present ceiling limit i.e. Rs.6500/-.
The implementation should not be based on designations.
Regards
From India, Delhi
The EPF&MP Act is applied strictly up to the monthly basic+DA+food concession of Rs.6500/- and beyond that it is the discretion of employer where a person joins beyond Rs.6500/- and do not have membership earlier anywhere else duly declared in form 11. If a person who joined beyond Rs.6500/- pm and declare that he was a member to the scheme, you can not ignore his membership and bound to enroll him a member at-least up to the present ceiling limit i.e. Rs.6500/-.
The implementation should not be based on designations.
Regards
From India, Delhi
The range of Rs.6500/- is increased and now range is 15000/- this is for your information pl.
From India
From India
Dear All,
According to EPF Act, there is no requirement of PF contribution where Salary=(basic+DA) is exceeding 6,500 INR. However, in case of employees where salary is exceeding 6,500 INR and where employee and employer are contributing to the fund:
According to Industry Practice: Follow consistency in terms of EPF contribution.
Best way I seen in industry is to compute PF on Salary=(basic+DA). Not restricting to 6,500 INR itself.
Thanks
Uma Sankar
From India, Chennai
According to EPF Act, there is no requirement of PF contribution where Salary=(basic+DA) is exceeding 6,500 INR. However, in case of employees where salary is exceeding 6,500 INR and where employee and employer are contributing to the fund:
According to Industry Practice: Follow consistency in terms of EPF contribution.
Best way I seen in industry is to compute PF on Salary=(basic+DA). Not restricting to 6,500 INR itself.
Thanks
Uma Sankar
From India, Chennai
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.
HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls