Please guide for pf pension break period if employee change the orgnisation and joined in new one
From India, Hyderabad
From India, Hyderabad
Iam also looking for information on pF payble if an employee leaves after working for 10days. Is PF dedcutible or payable??
Please clarify if an employee leaves without servinghis notice and does not return to collect his salary is PF payable to the department. Thisis urgent. Pl let me know wht are the currnet day practice.
From India, Bangalore
Please clarify if an employee leaves without servinghis notice and does not return to collect his salary is PF payable to the department. Thisis urgent. Pl let me know wht are the currnet day practice.
From India, Bangalore
I think you should be more clear on your question. If any employee worked for 10 days or any no of day the full amount of pf i e. 12% + 13.61 % will have to be deposited in the pf office. if any one leaves the job before 10 days he will not be able to withdraw full amount i.e. 25.61% . But he can claim for 12% + 3.67 % amount.
sandeep
From India, Raipur
1sandeep
From India, Raipur
Hi Sandeep!
Nice clarification!!!! I have one question, my organisation showed me a total CTC of Rs. 10000/- and now after joining I got to know that the amount of PF(employer's share) and LTA is being deducted from my salary only, making it abt 8000/- in hand....
Is it a legal and fair practice..
Thanks and Regards,
Alicia
From India, Delhi
Nice clarification!!!! I have one question, my organisation showed me a total CTC of Rs. 10000/- and now after joining I got to know that the amount of PF(employer's share) and LTA is being deducted from my salary only, making it abt 8000/- in hand....
Is it a legal and fair practice..
Thanks and Regards,
Alicia
From India, Delhi
sir, I have a doubt totol pf service is required 10 years, continous service is required, any breaks are acceptable, it was countable in pf service, please calirify
From India, Kakinada
From India, Kakinada
hi
thanks for such a clear information. One thing more i want to know, as you told if any one leaves the job before 10 days he will not be able to withdraw full amount i.e. 25.61% . But he can claim for 12% + 3.67 % amount, so he will be eligible for withdrawing of 25.61%. As per my knowledge employers contribution is also 12 % then where this 1.61 % come from?
Regards
Riya
From India, Delhi
thanks for such a clear information. One thing more i want to know, as you told if any one leaves the job before 10 days he will not be able to withdraw full amount i.e. 25.61% . But he can claim for 12% + 3.67 % amount, so he will be eligible for withdrawing of 25.61%. As per my knowledge employers contribution is also 12 % then where this 1.61 % come from?
Regards
Riya
From India, Delhi
I am giving the detailed break up of 25.61 %
Employee's Share 12 % [ on basic+d.a.]
Employer's Share 12 % [ on basic + d.a.] bifurcation in this 12 % is 8.33 % or maximum Rs.541.00 in Pension A/c. & balance amount in Employer's PF A/c.
Administration charges 1.10 % [ calculate on PF salary]
EDLI charges 0.50 % [ calculate on Pension salary]
EDLI Administration charges is 0.01 % [ calculate on Pension salary]
A/c. No. I - PF Account [ including Employee's PF & Employer"s PF]
A/c No. II - Administration charges [ which is calculate on PF salary]
A/c No. X - Pension amount [i.e. 8.33 % or maximum Rs.541.00
A/c No. XXI - EDLI Charges [ EMPLOYEE DEPOSIT LINK INSURANCE]
A/c No. XXII - EDLI Administration charges
Regards,
Deepak
From India, Thana
Employee's Share 12 % [ on basic+d.a.]
Employer's Share 12 % [ on basic + d.a.] bifurcation in this 12 % is 8.33 % or maximum Rs.541.00 in Pension A/c. & balance amount in Employer's PF A/c.
Administration charges 1.10 % [ calculate on PF salary]
EDLI charges 0.50 % [ calculate on Pension salary]
EDLI Administration charges is 0.01 % [ calculate on Pension salary]
A/c. No. I - PF Account [ including Employee's PF & Employer"s PF]
A/c No. II - Administration charges [ which is calculate on PF salary]
A/c No. X - Pension amount [i.e. 8.33 % or maximum Rs.541.00
A/c No. XXI - EDLI Charges [ EMPLOYEE DEPOSIT LINK INSURANCE]
A/c No. XXII - EDLI Administration charges
Regards,
Deepak
From India, Thana
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Employees' PF Appellate Tribunal Procedure Rules 1997.pdf
PF WITHDRAWAL RULES.zip