Dear Seniors It is said about 20% EDLI relief. Can any one explain this matter with the exact calculation please. Regards Pijush
From India, Bagnan
7From India, Bagnan
Dear Members,
Is it fine if emloyer keep same PF deduction for all the members (except trainees) e.g. 15,000*12%= 1800 ? or it must be based on basic salary which varies from employee to employee ?
Please advise on urgent basis.
Thanks,
Nikita
From India, Jamnagar
Is it fine if emloyer keep same PF deduction for all the members (except trainees) e.g. 15,000*12%= 1800 ? or it must be based on basic salary which varies from employee to employee ?
Please advise on urgent basis.
Thanks,
Nikita
From India, Jamnagar
Hi Nikita, You can calculate it on the ceiling rate of 15000. that will do. or can also deduct on actual wage (Basic+DA) if it is more than the ceiling that is 15000. Regards Pijush
From India, Bagnan
From India, Bagnan
Dear Mr.Piyush,
Many thanks for ur ans. I understood that Employer can keep same PF deduction for all the employees(Rs.1800) regardless of Basic+DA salary. Actually, we are new for PF so I have one more query re same.
If the employer is going to deduct PF as a part of CTC, then the contribution must be 13.61% of 15,000= 2042 (8.33%- Pension, 3.67%- PF, admin charges- 1.10, EDLI- 0.5%, Admin charges-0.01%). Is it true ?
Please help.
Thanks,
Nikita
From India, Jamnagar
Many thanks for ur ans. I understood that Employer can keep same PF deduction for all the employees(Rs.1800) regardless of Basic+DA salary. Actually, we are new for PF so I have one more query re same.
If the employer is going to deduct PF as a part of CTC, then the contribution must be 13.61% of 15,000= 2042 (8.33%- Pension, 3.67%- PF, admin charges- 1.10, EDLI- 0.5%, Admin charges-0.01%). Is it true ?
Please help.
Thanks,
Nikita
From India, Jamnagar
Hi Nikita
Thats right.things are same only the ceiling wage is increased by this new amendment. Employer contribution would be 13.61% on the wage but you need deduct only 12% from any employee's wage.
for instance- basic+da= 12000
employee contribution= 1440 (12%)
employer contribution= 1633 (13.61%)
Hope it will help. For more clarification post your query.
Regards
Pijush
From India, Bagnan
Thats right.things are same only the ceiling wage is increased by this new amendment. Employer contribution would be 13.61% on the wage but you need deduct only 12% from any employee's wage.
for instance- basic+da= 12000
employee contribution= 1440 (12%)
employer contribution= 1633 (13.61%)
Hope it will help. For more clarification post your query.
Regards
Pijush
From India, Bagnan
Dear Patil, PF is always calculated on the wage that includes only Basic and DA. Please see my previous post it may give you some idea.
From India, Bagnan
From India, Bagnan
Hi All, Is it mandatory that employer and employee has to pay 1800 per mnth? even though their gross salary is less than 15000 per month? please advise.
From India, Madras
From India, Madras
Dear Sir,
I am very thankful for such important information now i wish to clear my doubt about employees
who drawing salary less than Rs.15000 say ex. salary Rs.10000 what will be there basic in that case
From India, Dhule
I am very thankful for such important information now i wish to clear my doubt about employees
who drawing salary less than Rs.15000 say ex. salary Rs.10000 what will be there basic in that case
From India, Dhule
hello can anyone help me as am new with all these amendments. the employees whose PF was deducted earlier 780 as minimum, their PF now would be deducted as 1800 on 15000 as 12%. pls help. Am not clear with the amendment. and one more thing i read. that 12 months have been replaced with 60 months in new law. what does that mean??
From India, Delhi
From India, Delhi
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Wage-ceiling-ep f-6500-15000-ci rcular-circular .pdf
HIKE OF EPF CEILING LIMIT.jpg