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Hi, Is the employer contribution to the Provident Fund through Employer Provident Fund Organisation (EPFO) is tax exempted? I am little confused about it. Please guide
From India, Mumbai
From India, Mumbai
Employer contribution toward PF is exempted upto 12% for all Recognised provident fund.
But if the employee withdraw the balance before 5 year of service it will be taxable at the time of withdrawal
Regard
VENUGOPAL
From India, Bangalore
But if the employee withdraw the balance before 5 year of service it will be taxable at the time of withdrawal
Regard
VENUGOPAL
From India, Bangalore
Friends,
I have a little confusion. As part of the CTC employer shows in the accoutns book it as a an expenses and get the tax benefits. Doesn't it have a dual effect that employer as well as employee both are taking benefit from it?
I hope to get your support
From India, Mumbai
I have a little confusion. As part of the CTC employer shows in the accoutns book it as a an expenses and get the tax benefits. Doesn't it have a dual effect that employer as well as employee both are taking benefit from it?
I hope to get your support
From India, Mumbai
Dear All,
I need a help from all of you.
As per the provision of The Contract Labour (Regulation and Abolition) Act 1970, this Act is apply to any organisation having employee strength of more than 20.
Kindly see the following case:
An XYZ organisation has pan India presence and it has following employees in contractual basis:
1. Around 10 employee at Mumbai for housekeeping, support and assisting jobs.
2. Around 5 people in sales team from northern India, 2 people in sales from South India and around 3 from western India from the same contractor from where it has staff in housekeeping fom Mumbai.
3. It has 4 security guard from any other agency. So the total employee strength through different contractor is: 24 (10 people in Mumbai, 10 people in sales and 4 in the security) so the total strength is 24 with all over India but not in the same place.
Still, do the Act apply to this organisation? Does this organisation has to obtain registration certificate?
This is very urgent and I expect your help to understand and resolve the issue.
-- Regards
Govind
______________________________
"The world suffers a lot. Not because of the violence of bad people,
But because of the silence of good people!"
--Napoleon
Govind- 9960704146
URL: Welcome to HOPE Organisation
Blog: Simply Govind
From India, Mumbai
I need a help from all of you.
As per the provision of The Contract Labour (Regulation and Abolition) Act 1970, this Act is apply to any organisation having employee strength of more than 20.
Kindly see the following case:
An XYZ organisation has pan India presence and it has following employees in contractual basis:
1. Around 10 employee at Mumbai for housekeeping, support and assisting jobs.
2. Around 5 people in sales team from northern India, 2 people in sales from South India and around 3 from western India from the same contractor from where it has staff in housekeeping fom Mumbai.
3. It has 4 security guard from any other agency. So the total employee strength through different contractor is: 24 (10 people in Mumbai, 10 people in sales and 4 in the security) so the total strength is 24 with all over India but not in the same place.
Still, do the Act apply to this organisation? Does this organisation has to obtain registration certificate?
This is very urgent and I expect your help to understand and resolve the issue.
-- Regards
Govind
______________________________
"The world suffers a lot. Not because of the violence of bad people,
But because of the silence of good people!"
--Napoleon
Govind- 9960704146
URL: Welcome to HOPE Organisation
Blog: Simply Govind
From India, Mumbai
Hi Govind,
Yes, the principle employer has to obtain a Certificate of Registration showing all contracts and the maximum strength of employees... thought it is one or many. This is what we also follow.
Hope i am correct.
Truly Yours,
Kumar H P
From Hong Kong
Yes, the principle employer has to obtain a Certificate of Registration showing all contracts and the maximum strength of employees... thought it is one or many. This is what we also follow.
Hope i am correct.
Truly Yours,
Kumar H P
From Hong Kong
Hi Kumar and Silva
Thanks a lot for your response. Yes, I agree to you but the Act further says that "20 or more employee under one roof"
here, the employees are divided in different states
so can you please guide me
Govind
From India, Mumbai
Thanks a lot for your response. Yes, I agree to you but the Act further says that "20 or more employee under one roof"
here, the employees are divided in different states
so can you please guide me
Govind
From India, Mumbai
Hi,
Can you please share waht kind of leave your company has and what is the leave management system/ process you follow in your company?
For instances, few company may have CL, PL and SL and out of this, unlimited no. of SL may be there. Few company may have only one type of leave and so on...
I would also like to know the leave management followed in MNC and an analytical report on that.
Hope for your response
From India, Mumbai
Can you please share waht kind of leave your company has and what is the leave management system/ process you follow in your company?
For instances, few company may have CL, PL and SL and out of this, unlimited no. of SL may be there. Few company may have only one type of leave and so on...
I would also like to know the leave management followed in MNC and an analytical report on that.
Hope for your response
From India, Mumbai
we are giving (SL-10, CL-8, EL-30) in our automotive industry.... It can be very from company to company....u can go through the standing order of ur company.... Regards,
From India, Pune
From India, Pune
Hi,
Thanks a lot for your reply. The purpose of this posting is not that I don't know the leave types and all. I want to study the practices being followed in different companies.
First of all, we have to understand that the reason behind giving leave is
1. Statutory Obligation
2. To allow employee to have work life balance.
Few companies divide leave as Non-encashable and encashable leave apart from weekly off and holidays
Few have CL, PL and SL so people should not take leave by just informing a day advance.
Few companies have only one type of leave, they can name it anyway and finally, they do a planning for employees leave for the whole year so they should have proper balance in the department.
The CL, PL and SL concept seems that it is vanishing. Sometime it is often referred as the old government type system. However I have different view about this and wish to reserve my comment for time being.
As rightly said, HR department is a scientific department and every HR professionals are scientist. We do a lot of experiment and come to a conclusion. Deciding leave type, patterns and planning is also a kind of experiment. My whole discussion is based on this aspect only.
I will be happy to get more details about it.
From India, Mumbai
Thanks a lot for your reply. The purpose of this posting is not that I don't know the leave types and all. I want to study the practices being followed in different companies.
First of all, we have to understand that the reason behind giving leave is
1. Statutory Obligation
2. To allow employee to have work life balance.
Few companies divide leave as Non-encashable and encashable leave apart from weekly off and holidays
Few have CL, PL and SL so people should not take leave by just informing a day advance.
Few companies have only one type of leave, they can name it anyway and finally, they do a planning for employees leave for the whole year so they should have proper balance in the department.
The CL, PL and SL concept seems that it is vanishing. Sometime it is often referred as the old government type system. However I have different view about this and wish to reserve my comment for time being.
As rightly said, HR department is a scientific department and every HR professionals are scientist. We do a lot of experiment and come to a conclusion. Deciding leave type, patterns and planning is also a kind of experiment. My whole discussion is based on this aspect only.
I will be happy to get more details about it.
From India, Mumbai
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