Dear Friends,
I want to know the following details:
1. What percentage of the employer's contribution goes to PF, and what goes to the Pension scheme?
2. Does the government add any amount to the employer's contribution to the pension scheme?
3. How is the interest on PF and pension scheme calculated? If there is any spreadsheet for the same, please upload it or send it to dharmesh.panchal@bayertechnology.com.
4. How can we get details on our contribution to the pension scheme from the PF office as we never received any receipt from them?
Thanks for your support and suggestions.
Regards,
Dharmesh Panchal
9930373190
From India, Mumbai
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I want to know the following details:
1. What percentage of the employer's contribution goes to PF, and what goes to the Pension scheme?
2. Does the government add any amount to the employer's contribution to the pension scheme?
3. How is the interest on PF and pension scheme calculated? If there is any spreadsheet for the same, please upload it or send it to dharmesh.panchal@bayertechnology.com.
4. How can we get details on our contribution to the pension scheme from the PF office as we never received any receipt from them?
Thanks for your support and suggestions.
Regards,
Dharmesh Panchal
9930373190
From India, Mumbai
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Normally, 12% from the employee's side and 12% from the employer's side will go to EPF. Out of this, 8.33% from the employer (subject to a present ceiling of Rs. 541) will go to the pension fund, and the remaining portion will go to his individual PF account. In addition, the Government of India will contribute 1.16% to the pension fund.
Regarding PF interest calculation, it is compounded monthly and rounded to the nearest rupee. However, I shall insert an Excel Sheet in this regard. You can extend the rows (as per your requirement) and enter the salary applicable for PF.
Regards,
ABBAS.P.S, ITI LTD, PALAKKAD - 678 623
Ph. [Phone Number Removed For Privacy Reasons]
From India, Bangalore
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530Regarding PF interest calculation, it is compounded monthly and rounded to the nearest rupee. However, I shall insert an Excel Sheet in this regard. You can extend the rows (as per your requirement) and enter the salary applicable for PF.
Regards,
ABBAS.P.S, ITI LTD, PALAKKAD - 678 623
Ph. [Phone Number Removed For Privacy Reasons]
From India, Bangalore
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PF & Pension Amdmt Scheme 2010 for IW.pdf
PF INTEREST CALCULATION SHEET.xls