as per my knowledge now there is a little amendment in EPF Act. i.e epf limit for deduction is 6500/- in which all the allowances has also been calculated.
From India, Patiala
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1From India, Patiala
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Dear Sh Vermaji,
You are getting confused with the PF contributuion on the deductible part of the wages/salary of an employee.Sh Shailesh Parikh has rightly mentioned that for purpose of EPF contribution the “Pay” includes basic wages with [dearness allowance, retaining allowance (if any)], and cash value of food concessions admissible thereon.I have understood your query which contains two parts as how to treat his salary on a particular day when somebody is put on overtime.The PF contribution will be payable on one's ordinary rate of wages on that particular day but not on his overtime wages earned by him.We can't agitate on the stipulations of overtime given in various enactments unless the same are amended through policy frame work of Govt of India.
BS Kalsi
Member since Aug 2011
attribution https://www.citehr.com/458149-maximu...#ixzz2RMHpPqrv
From India, Mumbai
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You are getting confused with the PF contributuion on the deductible part of the wages/salary of an employee.Sh Shailesh Parikh has rightly mentioned that for purpose of EPF contribution the “Pay” includes basic wages with [dearness allowance, retaining allowance (if any)], and cash value of food concessions admissible thereon.I have understood your query which contains two parts as how to treat his salary on a particular day when somebody is put on overtime.The PF contribution will be payable on one's ordinary rate of wages on that particular day but not on his overtime wages earned by him.We can't agitate on the stipulations of overtime given in various enactments unless the same are amended through policy frame work of Govt of India.
BS Kalsi
Member since Aug 2011
attribution https://www.citehr.com/458149-maximu...#ixzz2RMHpPqrv
From India, Mumbai
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Dear All Members,
I am enclosing herewith a newspaper clipping from Mint dated April 19, 2013 for the information of the members. The Labour & Employment Ministry, Government of India, has constituted a Committee that has submitted its report favoring the clubbing of all components except HRA, overtime, bonuses, and commission to be considered as part of the salary under the PF Act. This move will result in employers contributing more to EPF accounts of the employees. The Ministry is also contemplating to facilitate online transfer and withdrawal of PF accounts of the employees in the near future.
BS Kalsi
Member since August 2011
From India, Mumbai
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I am enclosing herewith a newspaper clipping from Mint dated April 19, 2013 for the information of the members. The Labour & Employment Ministry, Government of India, has constituted a Committee that has submitted its report favoring the clubbing of all components except HRA, overtime, bonuses, and commission to be considered as part of the salary under the PF Act. This move will result in employers contributing more to EPF accounts of the employees. The Ministry is also contemplating to facilitate online transfer and withdrawal of PF accounts of the employees in the near future.
BS Kalsi
Member since August 2011
From India, Mumbai
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Mr. Verma,
PF is calculated on BASIC + DA + CASH VALUE FOR FOOD. According to the Factory Act 1948, the total working hours in a week, including overtime hours, should not exceed sixty, and the total overtime hours in a quarter should not exceed 50.
From India
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PF is calculated on BASIC + DA + CASH VALUE FOR FOOD. According to the Factory Act 1948, the total working hours in a week, including overtime hours, should not exceed sixty, and the total overtime hours in a quarter should not exceed 50.
From India
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Dear Ramit,
Unlike the Factories Act, the BOCW Act does not provide any limit on overtime work laid down therein. However, Section 29 of the Act has prescribed the wages for overtime work. It stipulates that where any building worker is required to work on any day in excess of the number of hours constituting a normal working day, he shall be entitled to wages at the rate of twice his ordinary rate of wages. The Delhi Rules provide that no building worker employed in building or other construction work shall be required to work for more than nine hours a day or forty-eight hours a week.
BS Kalsi
Member since Aug 2011
From India, Mumbai
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Unlike the Factories Act, the BOCW Act does not provide any limit on overtime work laid down therein. However, Section 29 of the Act has prescribed the wages for overtime work. It stipulates that where any building worker is required to work on any day in excess of the number of hours constituting a normal working day, he shall be entitled to wages at the rate of twice his ordinary rate of wages. The Delhi Rules provide that no building worker employed in building or other construction work shall be required to work for more than nine hours a day or forty-eight hours a week.
BS Kalsi
Member since Aug 2011
From India, Mumbai
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