Hi, in VPF you can contibute more in PF to save your tax as on PF you will get the tax rebate but employer contribution will not change. It will be only 12%.
From India, Ghaziabad
From India, Ghaziabad
Hi friends;I have just a company as a HR executive. Dont have a format of payroll format. Please help me. I really need that format.
From India, Calcutta
1From India, Calcutta
From our salary 12% is deducted as PF. I have some doubt n this:confused:. How do we employees will track, whether that deduction + Employer contribution is deposited in our PF account correctly:?:. And how to track the total available balance in our PF account:?:.
Regards,
Saranya
From India, Madras
Regards,
Saranya
From India, Madras
THERE IS NO CEILING ON CONTRIBUTION OF V P F. The V P F Contribution is only on the willingness of employee and it should be on the
specific percentage on PF WAGE and it is not a fixed amount like Rs.1000/-, Rs. 500/- etc. It should be always a some % on P F Wage. There is no need to pay EMPLOYER contribution on this. It is a voluntary Provident Fund Contribution by the employee. Employees generally opt for VPF for I T purpose and savings.
KALIDAS
From India, Hyderabad
specific percentage on PF WAGE and it is not a fixed amount like Rs.1000/-, Rs. 500/- etc. It should be always a some % on P F Wage. There is no need to pay EMPLOYER contribution on this. It is a voluntary Provident Fund Contribution by the employee. Employees generally opt for VPF for I T purpose and savings.
KALIDAS
From India, Hyderabad
There is no limit that what employee should contribute in VPF it means he/she can contribute 100% of its basic+da salary.
Employer will not contribute at that rate what employee doing. Employer will just contribute the 10 or 12% whatever applies to establishment.
Best Regards
From India, Nagpur
Employer will not contribute at that rate what employee doing. Employer will just contribute the 10 or 12% whatever applies to establishment.
Best Regards
From India, Nagpur
Its VPF means it depends upon u how much you money desire or how much % of your basic to deduct from your salary and deposited along withyour regular with PF deposit i.e.12% + 12% of employeer. On VPF employeer does not have any libality it your own and you will get same intrest as you are getting on regular P.F also you can not widraw
in between only on retirement or resignation. this as per my knowledge.
sunil prabhakar
Addl Manager H.R.
in between only on retirement or resignation. this as per my knowledge.
sunil prabhakar
Addl Manager H.R.
:confused:
Hi, For the deduction of Voluntary Provident Fund you have to apply for regularizing membership/Provident Fund Contributions deduction on salaries over and above Rs. 6500/- or at Higher Rate.
But employer should pay only 12% on basic rate. An employee can deduct the Provident Fund upto 32% of his basic. for thios he gets 8.5% intrest rate.
Pravin
From India, Pune
Hi, For the deduction of Voluntary Provident Fund you have to apply for regularizing membership/Provident Fund Contributions deduction on salaries over and above Rs. 6500/- or at Higher Rate.
But employer should pay only 12% on basic rate. An employee can deduct the Provident Fund upto 32% of his basic. for thios he gets 8.5% intrest rate.
Pravin
From India, Pune
Voluntary contribution is that, which the individual wish he should deposit it in his/her provident fund. It can be any amount. The statutory deduction is minimum 12% from employee side and 12% from employer side. But Voluntary contribution is dependent on the individual, howsoever amount an individual is able to free to take off from his salary on monthly basis. The advantage is income tax saving, higher rate of interest etc.
From India, Dehra Dun
From India, Dehra Dun
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Voluntary PF.doc
HC All - Trainees not covered for PF -2010.pdf