Hi Friends,
Can PF slab be fixed to Rs: 600/- for Employees up to salary Range of Rs: 10,000/pm, where as Basic Salary is bellow Rs: 6500.
Generally for higher salary range company may keep this slab to Rs: 780/-
I need this details,since we are planning to Standardise the salary structure in our company.
I request all members to kindly advice on abouve .
Many Thanks & Regards
mahesh k prasad
From India, Mumbai
55Can PF slab be fixed to Rs: 600/- for Employees up to salary Range of Rs: 10,000/pm, where as Basic Salary is bellow Rs: 6500.
Generally for higher salary range company may keep this slab to Rs: 780/-
I need this details,since we are planning to Standardise the salary structure in our company.
I request all members to kindly advice on abouve .
Many Thanks & Regards
mahesh k prasad
From India, Mumbai
i am not sure of this but generally we have a rule right which is 12% of basic. Just check wid some more seniors and post it here. Regards, Anup abraham
From India, Mumbai
From India, Mumbai
Dr. Mahesh,
No, You can't fix a slab of Rs.600/-, because pf is 12% of actual basic. But if the basic is above Rs.6500/- then you can fix Rs. 780/- as pf slab because Rs. 6500/- is maximum applicable limit of pf contribution. If it is less than Rs. 6500/- then you have to pay 12% of actual basic.
thanks,
kumaran siva
From India, Delhi
No, You can't fix a slab of Rs.600/-, because pf is 12% of actual basic. But if the basic is above Rs.6500/- then you can fix Rs. 780/- as pf slab because Rs. 6500/- is maximum applicable limit of pf contribution. If it is less than Rs. 6500/- then you have to pay 12% of actual basic.
thanks,
kumaran siva
From India, Delhi
^^ Sir above here,
If u can fix a slab of Rs 780 for basic above 6500 then why is my PF getting deducted more than 780 then ??
Or is it that the PF can be deducted at 12% of basic all the time unless the employee wants a slab to be kept..say for eg: my basic is 28000/- my PF deduction will be above 3300/- but if i want can i tell them to keep it 780/-
Pls explain!!
From India, Mumbai
If u can fix a slab of Rs 780 for basic above 6500 then why is my PF getting deducted more than 780 then ??
Or is it that the PF can be deducted at 12% of basic all the time unless the employee wants a slab to be kept..say for eg: my basic is 28000/- my PF deduction will be above 3300/- but if i want can i tell them to keep it 780/-
Pls explain!!
From India, Mumbai
Hi All,
PF as said above can be fixed to 780/- for the Basic+DA = 6500/- and more but in case if the any person is willing to deduct more than that amount he can. But the employers contribution is not necessarily increase. If I am worng please let me know.
So I guess, is the reason that your deduction of PF is more than 780/-
Sandeep K.
From India, Vadodara
PF as said above can be fixed to 780/- for the Basic+DA = 6500/- and more but in case if the any person is willing to deduct more than that amount he can. But the employers contribution is not necessarily increase. If I am worng please let me know.
So I guess, is the reason that your deduction of PF is more than 780/-
Sandeep K.
From India, Vadodara
dear anup,
Let me clear your point: your company is deducting 12% pf on your actual basic salary which is your company policy but it is not against pf rule because what ever deduction they make that will be deposited in your pf account. But it is not necessary to deduct 12 % on actual basic, it is enough to deduct 12 % on Rs. 6500/- which is the pf limit as per pf law. But there are so many companies deducting 12% on acutal basic keeping its own policy. But it is better the management should taking into consideration whether the employee willing to deduct on actual basic or on Rs.6500/-(contribution Rs.780/-).
If you need any more clarification, please feel free to contact me.
My email id.:
thanks,
kumaran siva
From India, Delhi
Let me clear your point: your company is deducting 12% pf on your actual basic salary which is your company policy but it is not against pf rule because what ever deduction they make that will be deposited in your pf account. But it is not necessary to deduct 12 % on actual basic, it is enough to deduct 12 % on Rs. 6500/- which is the pf limit as per pf law. But there are so many companies deducting 12% on acutal basic keeping its own policy. But it is better the management should taking into consideration whether the employee willing to deduct on actual basic or on Rs.6500/-(contribution Rs.780/-).
If you need any more clarification, please feel free to contact me.
My email id.:
thanks,
kumaran siva
From India, Delhi
Dear Mr. Siva,
Got your point. I am aware that it is going to my PF account, however i was still not sure that I can actually ask them to reduce it to 780 and rest get it transferred to any of my other allowance.
But ther is one more thing which is unclear. The company also contributes equally to the PF..which means that even they are contributing similar amount every month towards my account say eg: 3300 (my) + 3300 (co). am i correct?
So if i ask my company to reduce my contribution will it also affect the companys contribution towards PF eg 780 (my) + 3300 (co)? can this happen?
From India, Mumbai
Got your point. I am aware that it is going to my PF account, however i was still not sure that I can actually ask them to reduce it to 780 and rest get it transferred to any of my other allowance.
But ther is one more thing which is unclear. The company also contributes equally to the PF..which means that even they are contributing similar amount every month towards my account say eg: 3300 (my) + 3300 (co). am i correct?
So if i ask my company to reduce my contribution will it also affect the companys contribution towards PF eg 780 (my) + 3300 (co)? can this happen?
From India, Mumbai
Dear Anup,
I am not sure whether your company also contributing the same amount (Rs.3300/-) because it is up to the management to pay on actual basic or basic limit (Rs.780/-). But as per pf rule the management can't reduce the amount, they can only increase the amount. So, now they can't change the contribution even if you willing.
Thanks,
kumaran siva
From India, Delhi
I am not sure whether your company also contributing the same amount (Rs.3300/-) because it is up to the management to pay on actual basic or basic limit (Rs.780/-). But as per pf rule the management can't reduce the amount, they can only increase the amount. So, now they can't change the contribution even if you willing.
Thanks,
kumaran siva
From India, Delhi
my basic is 2500 pm and my monthky salary is net pay 7000 pm and in my salary slip they have not deducted any PF Amount or ESI tey have deducted only Professional Tax and i don't have any PF No , ia m planning to leave the company will it be okay when i join a
new company by saying that ia don't hagve a Pf Acount
From India, Madras
new company by saying that ia don't hagve a Pf Acount
From India, Madras
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls
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