Hi Experts , I would require few clarifications regarding VPF , we are going to start VPF contribution in our organisation from April 2020. so required suggestions on below Points from Employer Point of view.
1- Our organisation deduct PF based on restricted basic option , means 15000x12% = 1800 pm is fixed for all. So can we start VPF in this case ?
2- VPF contribution would be fix per month or it will be % based on Basic ? if it is fix then the fix amount will deduct every month , but if it is percentage based then the amount may vary because of Leave without pay and other components.
From India, Delhi
1- Our organisation deduct PF based on restricted basic option , means 15000x12% = 1800 pm is fixed for all. So can we start VPF in this case ?
2- VPF contribution would be fix per month or it will be % based on Basic ? if it is fix then the fix amount will deduct every month , but if it is percentage based then the amount may vary because of Leave without pay and other components.
From India, Delhi
What I practice is as follow-
suppose if Employee wants to contribute 4000 over and above 1800, than their total contribution will be Rs 4000+1800= Rs 5800/- which is the 12% of Rs 48333/-
If employees salary is up to this range (Rs 48,333) than, employee can contribute that much. In short, employee can make maximum contribution of their salary (12% of maximum salary)
While generating ECR-
Keep EPF Wages as- 48333
EPS Wages- 15000
EDLI Wages- 15000
UAN#~#Employee name#~#48333#~#15000#~#15000#~#15000#~#5800#~#1250 #~#550#~#0#~#0
A/C 2 inspection charges will be deducted on EPF wages.
We are just contributing extra employee share, employer is contributing on 15000 only.
From India, Pune
29suppose if Employee wants to contribute 4000 over and above 1800, than their total contribution will be Rs 4000+1800= Rs 5800/- which is the 12% of Rs 48333/-
If employees salary is up to this range (Rs 48,333) than, employee can contribute that much. In short, employee can make maximum contribution of their salary (12% of maximum salary)
While generating ECR-
Keep EPF Wages as- 48333
EPS Wages- 15000
EDLI Wages- 15000
UAN#~#Employee name#~#48333#~#15000#~#15000#~#15000#~#5800#~#1250 #~#550#~#0#~#0
A/C 2 inspection charges will be deducted on EPF wages.
We are just contributing extra employee share, employer is contributing on 15000 only.
From India, Pune
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