Dear Friend, What sri say is correct, what ever may be the salary Rs.780/- and the remaning amount will be to the Employee Pension Scheme accout only. Lavanya
From India, Chennai
From India, Chennai
Hi Ram,
This is really good one.
Below are the points to be consider.
1. He starts giving 45% of his basic to PF without fail for all the year till he is 59
2. There must be no cut in the service
3. Considering that there will be no rise in salary
4. Considering the rate of interest will be 8.5% through out the period.
Hold your breath.................
the person will get Rs.2,22,07,542.00 i.e., Two Crores Twenty two lacs Seven thousand five hundred forty two rupees.
Happy, so when we can get the party.
cheers
suneel.
From India, Bangalore
4This is really good one.
Below are the points to be consider.
1. He starts giving 45% of his basic to PF without fail for all the year till he is 59
2. There must be no cut in the service
3. Considering that there will be no rise in salary
4. Considering the rate of interest will be 8.5% through out the period.
Hold your breath.................
the person will get Rs.2,22,07,542.00 i.e., Two Crores Twenty two lacs Seven thousand five hundred forty two rupees.
Happy, so when we can get the party.
cheers
suneel.
From India, Bangalore
Hi Ram
Naturally these things are obvious and under calculation with slabs/rules/interest rate.If someone is having more contribution and accordingly he will get more that does not hold any big question mark whether he will get 2 lacs or 2 crore.
If his contribution is on higher side targetting 2 crore surely he will get that no one can change/ alter the funda after all acts and rules are there.
thnx
tarun
From India, Lucknow
Naturally these things are obvious and under calculation with slabs/rules/interest rate.If someone is having more contribution and accordingly he will get more that does not hold any big question mark whether he will get 2 lacs or 2 crore.
If his contribution is on higher side targetting 2 crore surely he will get that no one can change/ alter the funda after all acts and rules are there.
thnx
tarun
From India, Lucknow
Tarun,
I have mentioned the amount as per the requirment posted by Ram. Yes you are correct that the rules may change. For that purpose I have mentioned that if the rate of Interest remains same and without fail the payment is being made.
One more thing is I have not considered that his salary will increase during whole period. If you consider atleast 10% hike in every year then the amount will easly cross 3 Crores.
regards
suneel.
From India, Bangalore
I have mentioned the amount as per the requirment posted by Ram. Yes you are correct that the rules may change. For that purpose I have mentioned that if the rate of Interest remains same and without fail the payment is being made.
One more thing is I have not considered that his salary will increase during whole period. If you consider atleast 10% hike in every year then the amount will easly cross 3 Crores.
regards
suneel.
From India, Bangalore
Dear Ravi
Thanks for your reply. Employee contribution 12% of his basic wages (For example his basic 11,000 when his contribution amt is 1320.
Employer contribution 13.61% of Basic 11,000 or 13.61% of 6,500.
please reply or call to my mobile 09840578093
thanks and regards
Ram s
From India, Madras
Thanks for your reply. Employee contribution 12% of his basic wages (For example his basic 11,000 when his contribution amt is 1320.
Employer contribution 13.61% of Basic 11,000 or 13.61% of 6,500.
please reply or call to my mobile 09840578093
thanks and regards
Ram s
From India, Madras
Ram, It depends on the company. When the company has added the amount in CTC, they add as same basic option. If it is not included in the CTC then they go for 6500 slab. regards suneel.
From India, Bangalore
From India, Bangalore
Hi Ram,
Most of the companies started giving salary in CTC format (Cost To Company). In which they provide all the details which shows the total expenses to the company for intaking the person. It includes PF component also. They provide - PF employee and PF employer, Bonus etc in the CTC. In such cases the company is happy to provide 12% to what ever the basic of the employee is getting. Where company is not loosing anything extra.
But some companies where they not follow CTC option, where they fix the salary which includes only what the employee gets, those companies fix the limit of Rs.6500/- for the PF portion of employer part so they can save money.
regards,
From India, Bangalore
Most of the companies started giving salary in CTC format (Cost To Company). In which they provide all the details which shows the total expenses to the company for intaking the person. It includes PF component also. They provide - PF employee and PF employer, Bonus etc in the CTC. In such cases the company is happy to provide 12% to what ever the basic of the employee is getting. Where company is not loosing anything extra.
But some companies where they not follow CTC option, where they fix the salary which includes only what the employee gets, those companies fix the limit of Rs.6500/- for the PF portion of employer part so they can save money.
regards,
From India, Bangalore
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