Dear All, Can anyone tell me about PF’s interest rate i.e. on pension, continuation etc. Regards Anjana
From India, Bhubaneswar
11From India, Bhubaneswar
Dear Anjana
Greetings for the day,
First of all you should know the 12% contribution is from employee side & 12% contribution is from employer side excluding admistrative charges, the bifurcation of 24 % is 12%+3.67%= 15.67% should be epf on which intrest of 8.75% is provided, and the rest 8.33% should be eps on which no intrest is provide but contribution of 1.16% was provided by epfo.
Thanks & Regards,
From,
sumit kumar saxena
From India, Ghaziabad
Greetings for the day,
First of all you should know the 12% contribution is from employee side & 12% contribution is from employer side excluding admistrative charges, the bifurcation of 24 % is 12%+3.67%= 15.67% should be epf on which intrest of 8.75% is provided, and the rest 8.33% should be eps on which no intrest is provide but contribution of 1.16% was provided by epfo.
Thanks & Regards,
From,
sumit kumar saxena
From India, Ghaziabad
Dear Sumit, Thank you, But is the 8.75% is constant is it apply from the day one of contribution and what is that 1.16% epfo contribution. Regards Anjana
From India, Bhubaneswar
From India, Bhubaneswar
Interest rates are declared every year by EPFO board & may vary from year to year.
From India, Thane
From India, Thane
Dear Mr. Sumit Saxena, Thank you very much for this valuable information. Its very clear and comprehensive . Easy to understand. With best regards Rani Payaal
From India, Delhi
From India, Delhi
Dear Anjana,
Greetings for the day,
The Central Government shall also contribute at the rate of 1.16 per cent of the pay of the members of the Employees'
Pension Scheme and credit the contribution to the Employees' Pension Fund .
Thanks &Regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
Greetings for the day,
The Central Government shall also contribute at the rate of 1.16 per cent of the pay of the members of the Employees'
Pension Scheme and credit the contribution to the Employees' Pension Fund .
Thanks &Regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
Dear Sumit,
Greetings of the day
First of all I would like to say Thank you for your valuable contribution. Its now clear to my concept that the central govt. pay that 1.16% to EPS fund of every employee, One more thing I would like to know that our company is calculating PF on the basis of BASIC+ HRA but the ACT says it should be on BASIC+DA, can it be possible if so how?
Regards
Anjana
From India, Bhubaneswar
Greetings of the day
First of all I would like to say Thank you for your valuable contribution. Its now clear to my concept that the central govt. pay that 1.16% to EPS fund of every employee, One more thing I would like to know that our company is calculating PF on the basis of BASIC+ HRA but the ACT says it should be on BASIC+DA, can it be possible if so how?
Regards
Anjana
From India, Bhubaneswar
Dear Anjana,
Greetings for the day,
It is true that calculation of epf is done on basic+da+food conc.(if any), and the basic+da should not be less than the minimum wages defind by the state govt. time to time. So rather to consider HRA consider DA.
Thanks & Regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
Greetings for the day,
It is true that calculation of epf is done on basic+da+food conc.(if any), and the basic+da should not be less than the minimum wages defind by the state govt. time to time. So rather to consider HRA consider DA.
Thanks & Regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
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