hi all,
i have a querry buzzing my mind... always...
can anyone really help me out of this..
it is related to PF.
now, when we get employed, our employer very wonderfully says/informs/gives in writing -
PF (employer contribution) - X amount in the CTC of the employee and later in the appointment letter, there is another deduction from your CTC as employee contribution.
now tell me one thing.. what is the employer contributing ????????
coz the part that is believed to be there contribution, is actually a part of employee CTC and then again employee gets pf own contribution deducted...
isnt this a cheating or fooling around..
please correct me if i am wrong.
Thanks
Aayush Dubey
From India, New Delhi
2i have a querry buzzing my mind... always...
can anyone really help me out of this..
it is related to PF.
now, when we get employed, our employer very wonderfully says/informs/gives in writing -
PF (employer contribution) - X amount in the CTC of the employee and later in the appointment letter, there is another deduction from your CTC as employee contribution.
now tell me one thing.. what is the employer contributing ????????
coz the part that is believed to be there contribution, is actually a part of employee CTC and then again employee gets pf own contribution deducted...
isnt this a cheating or fooling around..
please correct me if i am wrong.
Thanks
Aayush Dubey
From India, New Delhi
Hi ayush,
yaeh ur rite, what ever d x amount deductin' in yur salary ,d same employer have to contribute.
i hav some points to share with u is,
1. some organization shall tak d basic of above 6500 dhey will deduct 780-/ from d employee side and same amount will contribute by employer too both d sides. (if d basic is less then 6500 will be taken considered as 12% of both d sides)
2. Some org will add PF contribution amount in your CTC part itself(24% both) will deduct in your part itself , once u plan to accept d new offer, you have to check in detail with them about the PF part.
Tx Venkatesh
From India, Madras
yaeh ur rite, what ever d x amount deductin' in yur salary ,d same employer have to contribute.
i hav some points to share with u is,
1. some organization shall tak d basic of above 6500 dhey will deduct 780-/ from d employee side and same amount will contribute by employer too both d sides. (if d basic is less then 6500 will be taken considered as 12% of both d sides)
2. Some org will add PF contribution amount in your CTC part itself(24% both) will deduct in your part itself , once u plan to accept d new offer, you have to check in detail with them about the PF part.
Tx Venkatesh
From India, Madras
dear the deduction ol employer share from employees account is illegal. in such cases the complain should be made to concerned RPFC regards rajanikant mishra
From India, Delhi
From India, Delhi
Hi,
Strictly speaking employer's contribution is defenitely part of CTC since the Company is incurring the cost towards u. But Company's contribution by no way should be deducted from salary nor it is a part of your salary. What is deducted from salary is employee's own contribution. This is certainly a cheating and punishable under the PF Act. This should immediately be brought into the notice of PF authorities for redressal. I have seen many companies are doing this illegal thing and many of our friends have highlighted the matter in this forum.
From India, Calcutta
Strictly speaking employer's contribution is defenitely part of CTC since the Company is incurring the cost towards u. But Company's contribution by no way should be deducted from salary nor it is a part of your salary. What is deducted from salary is employee's own contribution. This is certainly a cheating and punishable under the PF Act. This should immediately be brought into the notice of PF authorities for redressal. I have seen many companies are doing this illegal thing and many of our friends have highlighted the matter in this forum.
From India, Calcutta
Dear friend ,
PF is purly legal issue and both contributions is necessary, CTC is pulry with employee and employer there is no word in CTC in PF act , hence it is need to change terminalogy and law. we cant say it is cheating but it one type of understanding between two groups while employement . The employee needs employment then only he is agreeing the terms CTC.
From India
PF is purly legal issue and both contributions is necessary, CTC is pulry with employee and employer there is no word in CTC in PF act , hence it is need to change terminalogy and law. we cant say it is cheating but it one type of understanding between two groups while employement . The employee needs employment then only he is agreeing the terms CTC.
From India
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf