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Simplified Labor laws is EXCELLENT, EXCELLENT, EXCELLENT. I am preparing for an interview, this is useful to me as any thing.
Looking forward to received many such useful information
Best Wishes,
Venkat
From India, New Delhi
Looking forward to received many such useful information
Best Wishes,
Venkat
From India, New Delhi
Provident Fund :
Note :PF always calculated on BASIC + DA
Total PF contribution : 25.61%
Employers Contribution :12% (3.67% PF +8.33%Pension) +1.61%Administrative charges (1.10% Adm charges +.50 % EDLIF Charges) =13.61%
Note: Pension value 8.33% is always constant whther PF value can be variable depending on the Basic & DA
Pls study following cases:
Case :1if Basic + Da = 6500 then then contri wil be like ths Pension 8.33% ( 541) and PF value wil be (239)
Case II1 if Basic + Da > 6500 then then contri wil be like ths Pension 8.33 %( constant value 541) and PF will be : exess amount - 541 as exp IF Basic + DA is 12000/- then it wil be like ths Pension will be 541/- and PF will be 899/-
( cal.: 12000*12% -541 = 899/-)
Case III :if Basic + Da < 6500 then then contri wil be like ths Pension 8.33% and PF 3.67% of basic +DA
Exp : if basic is 5500/- then Pension wil be 5500*8.33% =458 and PF will be 5500*3.67% = 202/-
Employess Contribution:12% goes to PF amount only.
Best Regards,
Vibha
From India, Delhi
Note :PF always calculated on BASIC + DA
Total PF contribution : 25.61%
Employers Contribution :12% (3.67% PF +8.33%Pension) +1.61%Administrative charges (1.10% Adm charges +.50 % EDLIF Charges) =13.61%
Note: Pension value 8.33% is always constant whther PF value can be variable depending on the Basic & DA
Pls study following cases:
Case :1if Basic + Da = 6500 then then contri wil be like ths Pension 8.33% ( 541) and PF value wil be (239)
Case II1 if Basic + Da > 6500 then then contri wil be like ths Pension 8.33 %( constant value 541) and PF will be : exess amount - 541 as exp IF Basic + DA is 12000/- then it wil be like ths Pension will be 541/- and PF will be 899/-
( cal.: 12000*12% -541 = 899/-)
Case III :if Basic + Da < 6500 then then contri wil be like ths Pension 8.33% and PF 3.67% of basic +DA
Exp : if basic is 5500/- then Pension wil be 5500*8.33% =458 and PF will be 5500*3.67% = 202/-
Employess Contribution:12% goes to PF amount only.
Best Regards,
Vibha
From India, Delhi
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HC All - Trainees not covered for PF -2010.pdf