As per new notification pf ceiling limit is to be 15000 per month, whether it is on basic or gross.
if (basic or gross) whatever applies is less than ceiling limit can employee opt for non- deduction of pf
Thanks and regards
From India, New Delhi
3if (basic or gross) whatever applies is less than ceiling limit can employee opt for non- deduction of pf
Thanks and regards
From India, New Delhi
dear
as per the PF act the employee has to contribute 12% of basic salary(on net salary) for and also same to the management(but in management contributuion 8.33% will move to pension plan). the formula is same but only the thing we have to do what the ceiling limit have to increase for 6500 to 15000.
for example:
take a consideration on the previous thing.
employee basic salary is 24000 but at that time we have taken on the limit is 6500 for the 12%
based on the recent amendment
if employee basic salary is 24000 but at that time we have taken on the limit is 15000 for the 12%
this is for your information
regards
MANOHAR
From India
as per the PF act the employee has to contribute 12% of basic salary(on net salary) for and also same to the management(but in management contributuion 8.33% will move to pension plan). the formula is same but only the thing we have to do what the ceiling limit have to increase for 6500 to 15000.
for example:
take a consideration on the previous thing.
employee basic salary is 24000 but at that time we have taken on the limit is 6500 for the 12%
based on the recent amendment
if employee basic salary is 24000 but at that time we have taken on the limit is 15000 for the 12%
this is for your information
regards
MANOHAR
From India
Manohar Ji,
You have rightly said about the recent amendment as described....
But can company revise the basic without intimation....
Employee basic salary is 24000 but at that time we have taken on the limit is 6500 for the 12%
Based on the recent amendment
if employee basic salary is 24000 but at that time company can revise the basic to Rs.6500/- and balance add up in some other head. and do the calculation on Rs.6500/- for 12% instead of 15000 for the 12%
From India, Bangalore
You have rightly said about the recent amendment as described....
But can company revise the basic without intimation....
Employee basic salary is 24000 but at that time we have taken on the limit is 6500 for the 12%
Based on the recent amendment
if employee basic salary is 24000 but at that time company can revise the basic to Rs.6500/- and balance add up in some other head. and do the calculation on Rs.6500/- for 12% instead of 15000 for the 12%
From India, Bangalore
dear all,
Could anybody give me information about a construction medical officer. I have been told that under BOCW act if any construction site had 500 or above 500 workers at any time of the year, we have to appoint a medical officer and he should be govt approved.Is it necessary that he should be qualified under industrial safety and health policy.
Thanks & Regard
Subu Mamgain
From India, Delhi
Could anybody give me information about a construction medical officer. I have been told that under BOCW act if any construction site had 500 or above 500 workers at any time of the year, we have to appoint a medical officer and he should be govt approved.Is it necessary that he should be qualified under industrial safety and health policy.
Thanks & Regard
Subu Mamgain
From India, Delhi
Hi all,
I have some doubt in New PF G.O. There it is mentioned that On or after 01.09.2014 the entire employer and employee contribution shall remain in the provident fund and no diversion to EPS shall be made for all new PF Members on or after 01.09.2014 having salary more than 15,000/- at the time of joining.
So according the above statement is this clause applicable to NEW PF Account member after 1st sept 2014 OR any new employee for organization ( i mean exp person who changes job)
Please clarify the doubt. Thanks in advance.
From India
I have some doubt in New PF G.O. There it is mentioned that On or after 01.09.2014 the entire employer and employee contribution shall remain in the provident fund and no diversion to EPS shall be made for all new PF Members on or after 01.09.2014 having salary more than 15,000/- at the time of joining.
So according the above statement is this clause applicable to NEW PF Account member after 1st sept 2014 OR any new employee for organization ( i mean exp person who changes job)
Please clarify the doubt. Thanks in advance.
From India
Dear
Effective September, 1, 2014, all new EPF members shall not become a member of EPS, if their
pay is more than INR 15,000/ month at the time of joining. In other words, no allocation towards
pension fund will be made for such new members and the entire employee and employer
contribution will go to the provident fund account.
pkjain
From India, Delhi
Effective September, 1, 2014, all new EPF members shall not become a member of EPS, if their
pay is more than INR 15,000/ month at the time of joining. In other words, no allocation towards
pension fund will be made for such new members and the entire employee and employer
contribution will go to the provident fund account.
pkjain
From India, Delhi
Kindly help me if i have to circulate a mail to my internal employees for this PF Amendment.
Kindly let us know what i have to mention on that, bcoz now everyone PF Amount will be deduct more which we deducting earlier.
Hoping for positive reply
Regards
Anjali
From India, Chennai
Kindly let us know what i have to mention on that, bcoz now everyone PF Amount will be deduct more which we deducting earlier.
Hoping for positive reply
Regards
Anjali
From India, Chennai
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls