Dear Listers,
Our company has recently appinted two quality manager whose consolidated pay is Rs.12,500.00. Our HR dept guidelines says that since at the time of Appontment his salary is fixed more than Rs.6500.00 they dont fall in EPF contibution limit. so company no need to pay PF Share for him.
Those two managers are also not particular on PF deduction. But i wanted to know if we can treat them as exceptions or should we bring them under PF list and pay employer share of 12% on Rs.6500.00
Please advice.
Regards
Moahmed.
From India, Madras
11Our company has recently appinted two quality manager whose consolidated pay is Rs.12,500.00. Our HR dept guidelines says that since at the time of Appontment his salary is fixed more than Rs.6500.00 they dont fall in EPF contibution limit. so company no need to pay PF Share for him.
Those two managers are also not particular on PF deduction. But i wanted to know if we can treat them as exceptions or should we bring them under PF list and pay employer share of 12% on Rs.6500.00
Please advice.
Regards
Moahmed.
From India, Madras
if the company is paying 12500 as basic then the company liability to contribute p.f comes only upto the basic + da limit of 6500/- only and maximum p.f. cont is 780/- p.m.
From India, Dehra Dun
From India, Dehra Dun
dear
if basic+DA is more 6500 per month than it is employer choice to deduct or not to deduct PF.employer can deduct on full basic or can limit it to 6500.
but once you have made member of PF than ,you will continue to be member of PF
regards
j s malik
From India, Delhi
if basic+DA is more 6500 per month than it is employer choice to deduct or not to deduct PF.employer can deduct on full basic or can limit it to 6500.
but once you have made member of PF than ,you will continue to be member of PF
regards
j s malik
From India, Delhi
Dear Mohammad,
You have whatever strenght of employees where as Basic+DA is more than 6500/month then EPF is not applicable for them.
Please read the below statement clearly:
1)An organisation employed 20 or more persons then PF is applicable for eligible candidates.
2)If salary of all employees more than 6500/Basic+DA then PF is not applicable.therefore no PF to be deducted from their salary.
Best Regards
Sajid Ansari-Delhi
From India, Delhi
You have whatever strenght of employees where as Basic+DA is more than 6500/month then EPF is not applicable for them.
Please read the below statement clearly:
1)An organisation employed 20 or more persons then PF is applicable for eligible candidates.
2)If salary of all employees more than 6500/Basic+DA then PF is not applicable.therefore no PF to be deducted from their salary.
Best Regards
Sajid Ansari-Delhi
From India, Delhi
Dear Mohammad,
To add Mr.Malik views,Even if employee Basic +DA salary is more than Rs.6500 PF is applicable if he already have the PF account with previous organisation provided he shouldn't withdrawan the PF.Other wise you can take Form-11 From the employee to avaoid PF.Please find enclosed Form-11.
Regards,
Keshav Reddy.
From India, Bangalore
To add Mr.Malik views,Even if employee Basic +DA salary is more than Rs.6500 PF is applicable if he already have the PF account with previous organisation provided he shouldn't withdrawan the PF.Other wise you can take Form-11 From the employee to avaoid PF.Please find enclosed Form-11.
Regards,
Keshav Reddy.
From India, Bangalore
hi
u can deducted thier epf at the rate of 6500 as per epf and add the balance amount to fpf account of the employee suppose the basic salary of the employee is 12000 then u deduct epf by default 542 and the balance goes to fpf account 898 in pension a/c the total amount of deduction is 1440.
From India, Chandigarh
u can deducted thier epf at the rate of 6500 as per epf and add the balance amount to fpf account of the employee suppose the basic salary of the employee is 12000 then u deduct epf by default 542 and the balance goes to fpf account 898 in pension a/c the total amount of deduction is 1440.
From India, Chandigarh
Mallik Sir,
i am a fresher to the HR field.
i wanted to know how is PF calculated and what are the constraints of the same.
as an as you mentioned it looks like that it is not necessary that every employer will contribute to PF. do we as employees can decide not to invest in PF.
From India, New Delhi
i am a fresher to the HR field.
i wanted to know how is PF calculated and what are the constraints of the same.
as an as you mentioned it looks like that it is not necessary that every employer will contribute to PF. do we as employees can decide not to invest in PF.
From India, New Delhi
Obtaining Form 11 from the employees whose basic & DA is more than rs.6500 & who are not contributing to pf (non pf members) is mandatory?
From India, Bangalore
From India, Bangalore
Dear Vanisreenath, Form-11 is mandatory for the employees who is drawing more than Rs.6500(Basic+DA). Regards, Keshav Reddy.
From India, Bangalore
From India, Bangalore
Dear All
As per ur above discussion, i confused because i think PF deduction is must if emloyer have minimum 20 employees.
what the role of more than 6500/- (Basic+DA)?????????????
I think no limit deduction for PF,this norm [max 6500/-(Basic+DA)]only for Pension schem
If the company has registered in EPFO than it doesn't has right to decide PF deduct or not. it have to deduct 12% of (Basic+DA).
Pls discuss on above quries and clear my doubt.
Regards
Sandeep
Everyday Starts with Some Expectation. But, Ends with Some Experience
From India, Bangalore
As per ur above discussion, i confused because i think PF deduction is must if emloyer have minimum 20 employees.
what the role of more than 6500/- (Basic+DA)?????????????
I think no limit deduction for PF,this norm [max 6500/-(Basic+DA)]only for Pension schem
If the company has registered in EPFO than it doesn't has right to decide PF deduct or not. it have to deduct 12% of (Basic+DA).
Pls discuss on above quries and clear my doubt.
Regards
Sandeep
Everyday Starts with Some Expectation. But, Ends with Some Experience
From India, Bangalore
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