Hi Baginesh,
PF is to deducted on the basic salary you pay the employee for the 14days. I understand the predicament. You may find the employee drawing Rs. 6500/- and more as basic salary for 14 days. It is imperative that you deduct the maximum PF on the basic salary calculated.
PF is to deducted on the basic salary you pay the employee for the 14days. I understand the predicament. You may find the employee drawing Rs. 6500/- and more as basic salary for 14 days. It is imperative that you deduct the maximum PF on the basic salary calculated.
you cannot decrease PF amount...if basic is coming to more than 6500, then PF calculated on it is as per your company rules-780/-. So, you have to deduct 780/- itself.
From India, Calcutta
From India, Calcutta
Dear Mr. Baginesh,
Please refer your company full and final settlement policy. Generally PF is deducted on basic (basic+DA /VDA)earnings. If your company has a sealing amount of Rs. 780/- then deduct either Rs. 780/- or the pf % on the basic earning for the month whicher less.
From India, Hyderabad
19Please refer your company full and final settlement policy. Generally PF is deducted on basic (basic+DA /VDA)earnings. If your company has a sealing amount of Rs. 780/- then deduct either Rs. 780/- or the pf % on the basic earning for the month whicher less.
From India, Hyderabad
Hi,
Full and Final settlement is the last step before providing relieving certificate. Therefore as a practice it should be given on the last date of service. However, there is no law governing this issue.
However, it is advisable to issue the letter on the last day of service.
We would like to take this oppotunity to introduce us as a legal educational institution based at Kolkata since 1999 with a vision to provide guidance to Law Students. We also provide free legal advice to Companies, Legal Professionals and General Public.
In case of any furhter query please feel free to revert.
Centre for Legal Studies, Kolkata
From India, Calcutta
Full and Final settlement is the last step before providing relieving certificate. Therefore as a practice it should be given on the last date of service. However, there is no law governing this issue.
However, it is advisable to issue the letter on the last day of service.
We would like to take this oppotunity to introduce us as a legal educational institution based at Kolkata since 1999 with a vision to provide guidance to Law Students. We also provide free legal advice to Companies, Legal Professionals and General Public.
In case of any furhter query please feel free to revert.
Centre for Legal Studies, Kolkata
From India, Calcutta
Dear, The calculation is simple, You should deduct Rs.780/- fixed amount or 14 days (calculation) whichever is lower. Aryan
From India, Bangalore
From India, Bangalore
if compnay is not signing in PF form then what we can do can we do compalin in Consumer Court or we can do police complain dear friends pls suggest.
From India, Vadodara
From India, Vadodara
Dear all I want to know that what is the actual formula of EL leave calculation of a employee full final settlement.
From India, Ghaziabad
From India, Ghaziabad
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Full n final settlement.doc