Dear All,
Please answer my queries as i've been asked the same in interviews but don't have a sure answer for the same:
- What is the maximum voluntary Employee's contribution for PF ? And is it that one has to specify this voluntary contribution at the time of joining or can avail it any time ? and is there any procedure for it ?
- What is the maximum Employer's contribution ? Is it 12% of actual basic or can it go beyond that , and if so what would be the extent ?
Thanks & Regards,
Jeene
From India, Bangalore
2Please answer my queries as i've been asked the same in interviews but don't have a sure answer for the same:
- What is the maximum voluntary Employee's contribution for PF ? And is it that one has to specify this voluntary contribution at the time of joining or can avail it any time ? and is there any procedure for it ?
- What is the maximum Employer's contribution ? Is it 12% of actual basic or can it go beyond that , and if so what would be the extent ?
Thanks & Regards,
Jeene
From India, Bangalore
Is it that no one knows the answer or no one is bothered to answer ? I thought in this cite one gets at least one reply .. Madhu Sir , Need your help on this. Regards, Jeene
From India, Bangalore
From India, Bangalore
Dear Jeene,
This topic has been discussed threadbare, umpteen times. Even now, if you take a look at the "Recent post" you"ll ind many threads on it.
If you know Madhu Sir, one of our most popular and beloved Moderator, you simply need to:
I hope the above will suffice; unless you are looking for 'being spoon-fed".
Warm regards.
From India, Delhi
This topic has been discussed threadbare, umpteen times. Even now, if you take a look at the "Recent post" you"ll ind many threads on it.
If you know Madhu Sir, one of our most popular and beloved Moderator, you simply need to:
- view his public profile,
- then click on "Show All Statistics"; Or click on the "Statistics" tab;
- Click on either "Find all posts by .." or "Find all threads started by ..."
- read the posts/threads;
I hope the above will suffice; unless you are looking for 'being spoon-fed".
Warm regards.
From India, Delhi
Dear Jeene,
An employee can contribute more than 12% of his share to the PF. The employee contribution more than 12% of his Basic+DA+RA is called as voluntary contribution to the PF. The employee can contribute up to 100% of his Basic+DA+RA.
An employee can contribute to VPF at any time of his service not necessarily at the time of joining.
An employers contribution is 12% of actual Basic+DA+RA or Rs.6500 (maximum limit of Basic+DA+RA) whichever is less.
Regards,
Shreekanth.P.R
From India, Mumbai
An employee can contribute more than 12% of his share to the PF. The employee contribution more than 12% of his Basic+DA+RA is called as voluntary contribution to the PF. The employee can contribute up to 100% of his Basic+DA+RA.
An employee can contribute to VPF at any time of his service not necessarily at the time of joining.
An employers contribution is 12% of actual Basic+DA+RA or Rs.6500 (maximum limit of Basic+DA+RA) whichever is less.
Regards,
Shreekanth.P.R
From India, Mumbai
Thank you Sreekanth for replying., Thank you Mr. Raj kumar for letting me know the exact path. I had searched in Madhu Sir’s public profile but did not exactly find it. Regards, Jeene
From India, Bangalore
From India, Bangalore
Voluantary Provident Fund: You contribute more towards your PF, over and above the 12% mandated by the government. This additional voluntary contribution enjoys all the benefits of PF, except that the company doesn’t contribute an equal amount. But still, the interest rate is equal to the rate of interest for PF, and the withdrawal on retirement is tax-free. VPF can be a good option if you are very risk averse and want a safe option like PF. Please note that the maximum contribution allowed towards VPF is 100% of your basic + dearness allowance (DA).
with regards
Dharaneesh Kumar.V
Hr/Admin Executive
Organica Aromatics Pvt Ltd
From India, Bangalore
with regards
Dharaneesh Kumar.V
Hr/Admin Executive
Organica Aromatics Pvt Ltd
From India, Bangalore
Dear Jeene,
Employees & Employeer's contribution as per follows
Scheme Employee's Employer's
PF SCHEME 12% 3.67% OUT OF 12%
PENSION SCHEME NIL 8.33 OUT OF 12%
EDLI NIL 0.5%
ADMN CHARGES @1.1% OF THE TOTAL WASGES / SALARY
ADMN OF EDLI @ 0.01% OF THE WAGES / SALARY
REGARDS,
SURESH
From India
Employees & Employeer's contribution as per follows
Scheme Employee's Employer's
PF SCHEME 12% 3.67% OUT OF 12%
PENSION SCHEME NIL 8.33 OUT OF 12%
EDLI NIL 0.5%
ADMN CHARGES @1.1% OF THE TOTAL WASGES / SALARY
ADMN OF EDLI @ 0.01% OF THE WAGES / SALARY
REGARDS,
SURESH
From India
Dear Jeene, Employees & Employeer’s contribution as per follows Scheme Employee’s Employer’s PF SCHEME
From India
From India
Dear Jeene,
If an employee is interested in contributing more PF amount above 12% he has to take underwriting from the employer and submit request jointly to the office not below the rank of Assistant Provident Fund Commissioner.
Not many employers are interested in employees contributing excess amount of PF because they have to pay administration charges and EDLIS on percentage par with employee's contribution to the PF.
Regards,
Shreekanth.P.R
From India, Mumbai
If an employee is interested in contributing more PF amount above 12% he has to take underwriting from the employer and submit request jointly to the office not below the rank of Assistant Provident Fund Commissioner.
Not many employers are interested in employees contributing excess amount of PF because they have to pay administration charges and EDLIS on percentage par with employee's contribution to the PF.
Regards,
Shreekanth.P.R
From India, Mumbai
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