Hi,
This is Punitha. I have no experience in the HR department, but I want to learn more about HR as I have completed my MBA in HR. Currently, I am working in Customer Service. If anyone can teach me about the HR department, I would be eager to learn and eventually transition to a role as an HR Executive.
Thank you.
From India, Karimnagar
Acknowledge(0)
Amend(0)
This is Punitha. I have no experience in the HR department, but I want to learn more about HR as I have completed my MBA in HR. Currently, I am working in Customer Service. If anyone can teach me about the HR department, I would be eager to learn and eventually transition to a role as an HR Executive.
Thank you.
From India, Karimnagar
Acknowledge(0)Amend(0)
The calculation of PF slip - Form -23 is as follows:
1. Closing balance of the previous year is converted to the opening balance in the current year (Employee & employer).
2. Current year PF contribution (Employee & employer).
3. The sum of both contributions is added to the opening balance.
4. Add and carry forward the closing balance on a month-to-month basis in monthly contributions and after the closing of the year, give the average of the sum and calculate the percentage.
5. Add Opening balance + Current contribution + % = closing balance.
From India, Nasik
Acknowledge(0)Amend(0)
21. Closing balance of the previous year is converted to the opening balance in the current year (Employee & employer).
2. Current year PF contribution (Employee & employer).
3. The sum of both contributions is added to the opening balance.
4. Add and carry forward the closing balance on a month-to-month basis in monthly contributions and after the closing of the year, give the average of the sum and calculate the percentage.
5. Add Opening balance + Current contribution + % = closing balance.
From India, Nasik
Acknowledge(0)Amend(0)
Dear All,
I am familiar with the normal terms related to PF & EPF slips, but throughout the entire year, how is the interest rate calculated and placed in Form No. 23, i.e., the provident fund slip? I am uncertain about this aspect. Can anybody explain with an example?
I hope for a prompt reply.
Regards,
Amit Trada
From India, Ahmadabad
Acknowledge(0)Amend(0)
I am familiar with the normal terms related to PF & EPF slips, but throughout the entire year, how is the interest rate calculated and placed in Form No. 23, i.e., the provident fund slip? I am uncertain about this aspect. Can anybody explain with an example?
I hope for a prompt reply.
Regards,
Amit Trada
From India, Ahmadabad
Acknowledge(0)Amend(0)
Hi, Pls Checkout this.May Help you to some extent. Bijay
From India, Vadodara
Acknowledge(0)Amend(0)
From India, Vadodara
Acknowledge(0)Amend(0)
Dear Seniors,
Can anyone explain what the eligibility requirements are to receive a pension in the following scenarios?
1. After completing 10 years of service in a company.
2. After reaching the age of 58 while in service.
3. If an employee becomes a PF member at the age of 55, would they be eligible to receive a pension after turning 58?
I am looking forward to your responses.
Regards,
Hitesh
From India, Delhi
Acknowledge(0)Amend(0)
Can anyone explain what the eligibility requirements are to receive a pension in the following scenarios?
1. After completing 10 years of service in a company.
2. After reaching the age of 58 while in service.
3. If an employee becomes a PF member at the age of 55, would they be eligible to receive a pension after turning 58?
I am looking forward to your responses.
Regards,
Hitesh
From India, Delhi
Acknowledge(0)Amend(0)
Dear All,
Thank you for all the responses you have sent to me. It did help me a lot. Once again, thank you all very much to those who have posted their valuable responses. Hope I'll be back with another thread and get in touch with you all ;-)
Thank you.
From India, Hyderabad
Acknowledge(0)Amend(0)
Thank you for all the responses you have sent to me. It did help me a lot. Once again, thank you all very much to those who have posted their valuable responses. Hope I'll be back with another thread and get in touch with you all ;-)
Thank you.
From India, Hyderabad
Acknowledge(0)Amend(0)
Dear Hites,
The point-wise reply is as follows:
1. After completing 10 years of service in a company
Ans: After attaining the age of 52 years, you can apply for the reduced-rate pension scheme, and at this time, you have only applied for the Scheme Certificate.
2. After completing 58 years of age during service
Ans: You should apply for the pension with the prescribed form 10 D and necessary documents.
3. If any employee becomes a PF member at the age of 55 years, would he be eligible to receive a pension after turning 58 years old?
Ans: To be eligible for a pension, your service length needs to be 10 years or more.
I hope this answers your queries. If you have any further questions, please feel free to email me at amit_trada@yahoo.co.in.
Regards,
Amit Trada
9712343947
Surat, Gujarat
From India, Ahmadabad
Acknowledge(0)Amend(0)
The point-wise reply is as follows:
1. After completing 10 years of service in a company
Ans: After attaining the age of 52 years, you can apply for the reduced-rate pension scheme, and at this time, you have only applied for the Scheme Certificate.
2. After completing 58 years of age during service
Ans: You should apply for the pension with the prescribed form 10 D and necessary documents.
3. If any employee becomes a PF member at the age of 55 years, would he be eligible to receive a pension after turning 58 years old?
Ans: To be eligible for a pension, your service length needs to be 10 years or more.
I hope this answers your queries. If you have any further questions, please feel free to email me at amit_trada@yahoo.co.in.
Regards,
Amit Trada
9712343947
Surat, Gujarat
From India, Ahmadabad
Acknowledge(0)Amend(0)
Dear All, Very simple formula of PF slip calculation. please update your details of monthly wages, in attached excel sheet and calculate your pf %. Regards,
From India, Nasik
Acknowledge(0)Amend(0)
From India, Nasik
Acknowledge(0)Amend(0)
Dear All,
Can anyone tell me the exact Basic Pay and H.R.A. percentage over Gross Pay as per Government Rules (Himachal Pradesh or the rest of India) or tell me the favorite Salary Structure accepted mostly in the private sector.
Thanks and Regards,
Amar
+91 9467754890
From India, Delhi
Acknowledge(0)Amend(0)
Can anyone tell me the exact Basic Pay and H.R.A. percentage over Gross Pay as per Government Rules (Himachal Pradesh or the rest of India) or tell me the favorite Salary Structure accepted mostly in the private sector.
Thanks and Regards,
Amar
+91 9467754890
From India, Delhi
Acknowledge(0)Amend(0)
Conventionally PF records should be with the Finance/Acs or Pay Roll section. Same for the Advance Register also. kumar.s.
From India, Bangalore
Acknowledge(0)Amend(0)
0
0
From India, Bangalore
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Checked)-[The department that conventionally maintains PF records is typically the Finance/Accounts or Payroll section. The same applies to the Advance Register.] (1 Acknowledge point)
0
0
Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
CiteHR.AI
(Fact Checked)-The eligibility criteria for pension under the EPF scheme are as follows: 1. After completing 10 years of service. 2. After attaining the age of 58 years. 3. If an employee joins the PF scheme at 55, they can get a pension after reaching 58 if they fulfill the service requirement. For detailed calculation and eligibility, refer to the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. (1 Acknowledge point)