Dear All,
PF is deducted on which components of salary?
A labor consultant was suggesting that PF is also deducted on Special Allowance......
Could you all send me your views on the same please....
Rgds
From India, Ahmadabad
PF is deducted on which components of salary?
A labor consultant was suggesting that PF is also deducted on Special Allowance......
Could you all send me your views on the same please....
Rgds
From India, Ahmadabad
Dear Vinod ,
PF is deducted on Basic pay. Below is the definition of Basic Pay.
‘Basic pay’ :- means all emoluments which are earned by an employee while on
duty or on leave or on holiday with wages in either case in accordance with the terms of
the contract of employment and which are paid or payable in cash to him but does not
include -
(i) the cash of any food concession
(ii) any dearness allowance (that is to say, all cash payments by whatever
name called paid to an employee on account of a rise in the cost of
living), house rent allowance, overtime allowance, bonus, commission
or any other similar allowance, payable to the employee in respect of
his employment or of work done in such employment.
(iii) any presents made by the employer.
Source
<link outdated-removed>
Regards
Krishna
From India, Bangalore
PF is deducted on Basic pay. Below is the definition of Basic Pay.
‘Basic pay’ :- means all emoluments which are earned by an employee while on
duty or on leave or on holiday with wages in either case in accordance with the terms of
the contract of employment and which are paid or payable in cash to him but does not
include -
(i) the cash of any food concession
(ii) any dearness allowance (that is to say, all cash payments by whatever
name called paid to an employee on account of a rise in the cost of
living), house rent allowance, overtime allowance, bonus, commission
or any other similar allowance, payable to the employee in respect of
his employment or of work done in such employment.
(iii) any presents made by the employer.
Source
<link outdated-removed>
Regards
Krishna
From India, Bangalore
Now a days the consultants ( with due respect) just to mint money suggesting various things, which are outside the scope of act and rules. Ofcourse their are some court judgements that special allowances also need to be inculded on basic wages for the purpose of PF contribution. In my view unless the EPF act is amended to give the effect nothing other than Basic and DA ( as per the contract of employment) need to be considered. Their are various organisations chanlanging these aspects , which are pending before EPF tribunal and courts.
gk
From India, Madras
gk
From India, Madras
Dear Friend, P.F is deducted on BASIC + D.A + the cash of any food concession. Regards S. Achuthananda
From India, Pune
7From India, Pune
Dear Friends,
Wanted a confirmation on whether my calculation on attrition rate is correct.
No.of employees left during the year/ no.of employees at the begining of the year + the new recruits of the year * 100.
Kindly throw some light whether the calculation is correct.
Regards
Celine
From India, Ahmadabad
Wanted a confirmation on whether my calculation on attrition rate is correct.
No.of employees left during the year/ no.of employees at the begining of the year + the new recruits of the year * 100.
Kindly throw some light whether the calculation is correct.
Regards
Celine
From India, Ahmadabad
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