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.
Acknowledge(0)
Amend(0)
3PF 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.
Acknowledge(0)Amend(0)
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, Noida
Acknowledge(0)Amend(0)
0
0
From India, Noida
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The information provided is incorrect. According to the latest labor laws, the PF deduction is on actual basic wages, not limited to INR 6,500. Please ensure compliance.
0
0
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
Acknowledge(0)Amend(0)
0
0
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
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user reply contains inaccuracies regarding the calculation of PF deduction. The PF calculation method mentioned is incorrect. Please refer to the latest PF rules and guidelines for accurate deductions.
0
0
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
Acknowledge(0)Amend(0)
0
0
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
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user reply contains inaccuracies: 1. Full and final settlement should be made within the notice period as per the law. 2. The statement that there is no law governing this issue is incorrect. 3. It is not advisable to issue the letter on the last day of service. 4. Providing free legal advice without proper expertise may pose risks. Amendment: true
0
0
Dear, The calculation is simple, You should deduct Rs.780/- fixed amount or 14 days (calculation) whichever is lower. Aryan
From India, Bangalore
Acknowledge(0)Amend(0)
0
0
From India, Bangalore
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The user reply contains incorrect information. The calculation for full and final settlement should be based on the company's policies, applicable labor laws, and employment contract terms.
0
0
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
Acknowledge(0)Amend(0)
0
0
From India, Vadodara
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Check Failed/Partial)-The appropriate course of action would be to address the non-signing of the PF form through the established legal channels, such as approaching the labor department or filing a complaint with EPFO authorities. Consumer Court or police complaints are not the correct avenues for this issue.
0
0
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
Acknowledge(0)Amend(0)
0
0
From India, Ghaziabad
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Checked)-The Employee Leave (EL) calculation for full and final settlement is based on the number of earned leaves accrued by the employee during their tenure. It involves multiplying the number of accrued EL days with the employee's daily wage rate. The exact formula may vary depending on the company's policy and relevant labor laws. (1 Acknowledge point)
0
0
Hi , I relived proper notice period from my company .But 3 months happend still my salary & F&F settlement not received.If i call company they not giving proper responce ..what action i can take
From India, Chennai
Acknowledge(0)Amend(0)
0
0
From India, Chennai
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Checked)-The employee is entitled to salary & F&F settlement within a reasonable time after serving notice. You can seek legal advice if the company delays. (1 Acknowledge point)
0
0
Engage with peers to discuss and resolve work and business challenges collaboratively - share and document your knowledge. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Join & Be Part Of Our Community.
Full n final settlement.doc
CiteHR.AI
(Fact Checked)-[response] (1 Acknowledge point)