Thank you for the information. I have one more question. Is 13.61% the administration charge for individuals with a basic salary exceeding 6500? Could you please explain this further? Also, what are the main forms in PF?
Regards,
RAHUMAN
From India, Bangalore
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Regards,
RAHUMAN
From India, Bangalore
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13.61% is not the administrative charges.
Administrative charge is 1.10%
There is something called EDLI (Employee deposit linked insurance)
EDLI This is an insurance scheme to provide life insurance benefits to the employees of the establishments covered by the EPF & MP Act, 1952
1. On the death of an employment while in service a lump sum insurance amount is payable to his nominee or family members.
2. The insurance amount is equal to the average balance in the account of the deceased employee in the Provident Fund during a period of 12 months immediately preceding his death. In case the average balance exceeds Rs.50,000/- the insurance amount payable is Rs. 50,000/- plus 40% of the amount in excess of Rs. 50,000/- subject to a ceiling of Rs. 1,00,000/-. As per the 18th june, 2010 amendment
So for this EDLI Employer will contribute 0.5% on Basic + D.A and its administrative charge is 0.01 % on Basic + D.A
So
EPF (employer contribution) - 12%
Administrative charge for EPF - 1.10%
EDLI - 0.5%
Administrative charge on EDLI - 0.01%
TOTAL - 13.61%
And if you add employee’s contribution of 12 % it will be 25.61%
Contribution for Administrative charge will be from employer side
dont confuse with 6500 that is the ceiling, if you are getting more than 6500 as your basic and DA you can contribute 780 i.e 12 % of 6500 which is the minimum amount or you can contribute 12% on what you get (Basic + D.A)
For forms I have attached the file which i have taken from citehr check it.
From India, Madras
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Administrative charge is 1.10%
There is something called EDLI (Employee deposit linked insurance)
EDLI This is an insurance scheme to provide life insurance benefits to the employees of the establishments covered by the EPF & MP Act, 1952
1. On the death of an employment while in service a lump sum insurance amount is payable to his nominee or family members.
2. The insurance amount is equal to the average balance in the account of the deceased employee in the Provident Fund during a period of 12 months immediately preceding his death. In case the average balance exceeds Rs.50,000/- the insurance amount payable is Rs. 50,000/- plus 40% of the amount in excess of Rs. 50,000/- subject to a ceiling of Rs. 1,00,000/-. As per the 18th june, 2010 amendment
So for this EDLI Employer will contribute 0.5% on Basic + D.A and its administrative charge is 0.01 % on Basic + D.A
So
EPF (employer contribution) - 12%
Administrative charge for EPF - 1.10%
EDLI - 0.5%
Administrative charge on EDLI - 0.01%
TOTAL - 13.61%
And if you add employee’s contribution of 12 % it will be 25.61%
Contribution for Administrative charge will be from employer side
dont confuse with 6500 that is the ceiling, if you are getting more than 6500 as your basic and DA you can contribute 780 i.e 12 % of 6500 which is the minimum amount or you can contribute 12% on what you get (Basic + D.A)
For forms I have attached the file which i have taken from citehr check it.
From India, Madras
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Thank you very much for the detailed information you provided. Now, could you please explain the employer and employee contributions? I understand the difference in terms, but I would like to know more about the legal and PF-based contributions. Thank you.
From India, Bangalore
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From India, Bangalore
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Dear,
For better clarity, please find appended details for your records regarding PF calculation:
- PF employee contribution: 12%
- EPF employer contribution: 8.33% (restricted to Rs. 541/-; remaining amount will be posted to PF employee contribution)
- EPF employer contribution: 3.67% (overall employer contribution comes to 12%)
- ADMN charges: 1.10%
- ADMN EDLI: 0.01%
- EDLI: 0.5%
Hope this clarifies.
Regards,
ASK
From India, Madras
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1For better clarity, please find appended details for your records regarding PF calculation:
- PF employee contribution: 12%
- EPF employer contribution: 8.33% (restricted to Rs. 541/-; remaining amount will be posted to PF employee contribution)
- EPF employer contribution: 3.67% (overall employer contribution comes to 12%)
- ADMN charges: 1.10%
- ADMN EDLI: 0.01%
- EDLI: 0.5%
Hope this clarifies.
Regards,
ASK
From India, Madras
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The employer's contribution is 12%. As others have mentioned, there is a breakdown in the employer's contribution. The reason the amount is coming out less is because they would have calculated it based on the minimum limit of the basic salary, i.e., 6500/-.
From India, Coimbatore
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From India, Coimbatore
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I think ,we can make sence that PF is the mitual understanding financial plan of which are strickly followed by the employer .
From Bangladesh
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From Bangladesh
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dear sir, can i get pf withdrawal form? i was worked in delhi based company called lilliput kidswear ltd for 27 months from 25.05.2007 to 31.08.2009 Regards Bhuthesh
From India, Bangalore
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From India, Bangalore
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Dear Bhutesh,
Follow the link below for your needs. Additionally, there are some other important forms available for download:
[Download All Provident Fund (PF/EPFO) Forms here | Provident Fund Forms](http://www.downloadformsindia.com/Provident-Fund-Forms/download-all-provident-fund-pf-epfo-forms-here.html)
Regards,
Krishna Kumar Pandey
9840221925
From India, Mumbai
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Follow the link below for your needs. Additionally, there are some other important forms available for download:
[Download All Provident Fund (PF/EPFO) Forms here | Provident Fund Forms](http://www.downloadformsindia.com/Provident-Fund-Forms/download-all-provident-fund-pf-epfo-forms-here.html)
Regards,
Krishna Kumar Pandey
9840221925
From India, Mumbai
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