Hi, According to PF act Minimum exployer contribution is only 12% of total basic but you have shown 13.61% kindly explain. Waiting for your reply. Regards, Vijay
From India, Mumbai
Acknowledge(0)
Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Dear Mr Vijay, Greetings! Just see my previous post, I have replied to your query. Rgds, John N
From India, Madras
Acknowledge(0)Amend(0)
59From India, Madras
Acknowledge(0)Amend(0)
Hai Vijay,
Employee P.F Contribution is 12% ( On Basic + D.A)
Employer Contribution towards P.F to each employee is as follows.
Employer Contribution of 12 % would be divided into 8.33% Pension scheme and 3.67% provident fund.
1.1% towards administrative charges of Employee Provident Fund ( Employer hit)
0.5% towards Employee Deposit Linked Insurance Scheme (EDLIS) ( Employer hit)
0.01% towards administrative charges of EDLIS (Employer hit)
Total employer hit would come to 13.61%
Maheswara Rao.CH
09848308694
From India, Hyderabad
Acknowledge(0)Amend(0)
Employee P.F Contribution is 12% ( On Basic + D.A)
Employer Contribution towards P.F to each employee is as follows.
Employer Contribution of 12 % would be divided into 8.33% Pension scheme and 3.67% provident fund.
1.1% towards administrative charges of Employee Provident Fund ( Employer hit)
0.5% towards Employee Deposit Linked Insurance Scheme (EDLIS) ( Employer hit)
0.01% towards administrative charges of EDLIS (Employer hit)
Total employer hit would come to 13.61%
Maheswara Rao.CH
09848308694
From India, Hyderabad
Acknowledge(0)Amend(0)
Hi,
Ours is a financial service sector which is actually an investment advisory company... We have 9 employees in all. Now we are initiating giving salary slip. Will PF, Gratuity apply.....
What are the components should I consider while making salary slip
Regards,
Sheetal
From India
Acknowledge(0)Amend(0)
Ours is a financial service sector which is actually an investment advisory company... We have 9 employees in all. Now we are initiating giving salary slip. Will PF, Gratuity apply.....
What are the components should I consider while making salary slip
Regards,
Sheetal
From India
Acknowledge(0)Amend(0)
Hi Muskan..
Welcome.. its all mine pleasure... that it helped you.. :D
he contents of the salary break up is as below, you can prepare it at the suitability of your own. Basic may be 30 to 50 or 60 % of the gross.. HRA would be 40 to 60% of basic.
Basic
HRA
CCA - 825/- is exempted from tax
Other Allowance
Mobile Reimbursement
Medical Reimbursement of 1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
EX-Gratia/Bonus = A fixed amount as Bonus
Annual Fixed Gross Cost= Gross/Annum+ Ex-gratia
Annual Total Cost = AFGC + PF+ESIC
Annual total cost is also called as CTC.
Apart from this Food coupons, Holiday package and Furnishing items are included in their CTC.
Hope it must have helped you to clear your queries up to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
Acknowledge(0)Amend(0)
Welcome.. its all mine pleasure... that it helped you.. :D
he contents of the salary break up is as below, you can prepare it at the suitability of your own. Basic may be 30 to 50 or 60 % of the gross.. HRA would be 40 to 60% of basic.
Basic
HRA
CCA - 825/- is exempted from tax
Other Allowance
Mobile Reimbursement
Medical Reimbursement of 1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
EX-Gratia/Bonus = A fixed amount as Bonus
Annual Fixed Gross Cost= Gross/Annum+ Ex-gratia
Annual Total Cost = AFGC + PF+ESIC
Annual total cost is also called as CTC.
Apart from this Food coupons, Holiday package and Furnishing items are included in their CTC.
Hope it must have helped you to clear your queries up to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
Acknowledge(0)Amend(0)
Hi, Amit
How r u ...
your mail helped me out for the salary slip format...i m in BPO industry...cna u provide some more types of salary format as that i can put my own & create.
Pls help me about how much % should be the basic...if 12% PF would be deducted from basic..
For Exp if an employee have 10000 k p m gross what would be the basic.
Regards,
Muskan
From India, Indore
Acknowledge(0)Amend(0)
How r u ...
your mail helped me out for the salary slip format...i m in BPO industry...cna u provide some more types of salary format as that i can put my own & create.
Pls help me about how much % should be the basic...if 12% PF would be deducted from basic..
For Exp if an employee have 10000 k p m gross what would be the basic.
Regards,
Muskan
From India, Indore
Acknowledge(0)Amend(0)
Hi Friends,
I am Mohamed Fazal. Working as a software developer. I would like to notice that, currently i am constructing a Automated HR System for Payslip and Employee Time Tracking System. If any one need please contact me at
.
With regards,
Mohamed Fazal
From Kuwait, Kuwait
Acknowledge(0)Amend(0)
I am Mohamed Fazal. Working as a software developer. I would like to notice that, currently i am constructing a Automated HR System for Payslip and Employee Time Tracking System. If any one need please contact me at
With regards,
Mohamed Fazal
From Kuwait, Kuwait
Acknowledge(0)Amend(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.