Hi, Can anyone send me the detailed Provident Fund and Bonus Scheme which is must to follow for all the organization. Its urgent. Regards NEHA
From India, Lucknow
3From India, Lucknow
Dear Neha, Pls type provident fund and bonus in the Search Tab of the Forum...you will get loads of info already posted here...(on other labor laws also) Cheers :P Cheenu
From India, Delhi
From India, Delhi
Hi,
PF is calculated on basic
i.e if salary is 5000 and basic is 3000 so PF should be 3000 X 12% = 360 (Is deducted from both employer as well as employee.
Bonus depends on Management
IT may vary from company to company.
some company may have bonus of 1 month salary some may have 1.5 months salary.
From India, Mumbai
PF is calculated on basic
i.e if salary is 5000 and basic is 3000 so PF should be 3000 X 12% = 360 (Is deducted from both employer as well as employee.
Bonus depends on Management
IT may vary from company to company.
some company may have bonus of 1 month salary some may have 1.5 months salary.
From India, Mumbai
Hi
Neha
P F is depending upon Basic+D A.
Both E.Yr & E.yee should contribute 12% on Basic+DA towards PF.
Out of 12% of employers share
8.33% will goes to Employee Pension Scheem(EPS-16/11/95)
&
Remaining 3.67% will goes to Employee Provident Fund
under EPF(M&P) Act,1952
Total 12% of employees share will goes to EPF
under EPF(M&P) Act,1952.
First u should take PF Nomination Form( Form-2) for each employee & then The above procedure will follows Through Diff. Forms.
About bBonus- That those E.yees Drawing Less than Rs3,500/- are eligible for bonus under Payment of Bonus Act,1965 & they were Eligible to draw 8.33%(Basic+DA ) minimum & 20%(Basic+DA ) Maximum subjected to your copmany's profits(Allocable Surplus).
& Those who r drawing more Than Rs3,500/-, for them it is called
Ex-gratia or PLP subjected to your Company Policies.
Further inquaries u may send mails to citehr are to
Regds.
Rajesh-Trainee HR 8)
Neha
P F is depending upon Basic+D A.
Both E.Yr & E.yee should contribute 12% on Basic+DA towards PF.
Out of 12% of employers share
8.33% will goes to Employee Pension Scheem(EPS-16/11/95)
&
Remaining 3.67% will goes to Employee Provident Fund
under EPF(M&P) Act,1952
Total 12% of employees share will goes to EPF
under EPF(M&P) Act,1952.
First u should take PF Nomination Form( Form-2) for each employee & then The above procedure will follows Through Diff. Forms.
About bBonus- That those E.yees Drawing Less than Rs3,500/- are eligible for bonus under Payment of Bonus Act,1965 & they were Eligible to draw 8.33%(Basic+DA ) minimum & 20%(Basic+DA ) Maximum subjected to your copmany's profits(Allocable Surplus).
& Those who r drawing more Than Rs3,500/-, for them it is called
Ex-gratia or PLP subjected to your Company Policies.
Further inquaries u may send mails to citehr are to
Regds.
Rajesh-Trainee HR 8)
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Amendment to Public Provident Fund Scheme 1968 (PPF 1968).pdf