Dear Friend, I want to know what is the salary limit for pf deduction ? if his salary is more than 6500 rs then how much pf should deduct Regards Dilip
From India, Pune
3From India, Pune
Dear Friend,
There are two kind of Provident Fund Account. First is Employee's Provident Fund managed and maintained by the Provident Fund Department, second is a PF trust managed and maintained by the company. In case of withdrawal of PF from PF company's trust, it must be signed by the company's authorised signatory. PF department cannot interfere in the same. Though company cannot deduct anything from PF accumulations of the employees but in case of serious charges such as Thefts and manipulation of funds etc. it had hold the PF until any inquiry is done and results are out.
Form 19 and Form 10C are used for withdrawl of PF.
Somebody asked about some clarification about PF. Rs. 6500 as basic pay plus da is the minimum limit upon which PF is contributed...actually it depends on the company policy. If an employee has a salary of 20000 pm, the company either deducts PF on a basic pay i.e. approx. 45%-60% of the gross salary or deducts minimum PF at Rs. 780 (Rs. 6500 * 12%). If an employee has a basic pay of Rs. 6500 it's mandatory to deduct PF on the basic pay.
Ofcourse any person can ask for any kind of forms anytime, afterall it's group especially designed for HR. There is a download section where you may forms and other important HR related information which you may download for free.
best regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
There are two kind of Provident Fund Account. First is Employee's Provident Fund managed and maintained by the Provident Fund Department, second is a PF trust managed and maintained by the company. In case of withdrawal of PF from PF company's trust, it must be signed by the company's authorised signatory. PF department cannot interfere in the same. Though company cannot deduct anything from PF accumulations of the employees but in case of serious charges such as Thefts and manipulation of funds etc. it had hold the PF until any inquiry is done and results are out.
Form 19 and Form 10C are used for withdrawl of PF.
Somebody asked about some clarification about PF. Rs. 6500 as basic pay plus da is the minimum limit upon which PF is contributed...actually it depends on the company policy. If an employee has a salary of 20000 pm, the company either deducts PF on a basic pay i.e. approx. 45%-60% of the gross salary or deducts minimum PF at Rs. 780 (Rs. 6500 * 12%). If an employee has a basic pay of Rs. 6500 it's mandatory to deduct PF on the basic pay.
Ofcourse any person can ask for any kind of forms anytime, afterall it's group especially designed for HR. There is a download section where you may forms and other important HR related information which you may download for free.
best regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
Miss,
you cant withdraw PF money as you have not completed 6month in an organization(B), better you talk to PF commissioner about the same & ask for transfer to your new organization(C),
Also want to inform you that some where it also take an year to get transfer of PF amt, but get confirm, has your PF transfer form has been processed from company B.
Regards
CP
From India, Mumbai
you cant withdraw PF money as you have not completed 6month in an organization(B), better you talk to PF commissioner about the same & ask for transfer to your new organization(C),
Also want to inform you that some where it also take an year to get transfer of PF amt, but get confirm, has your PF transfer form has been processed from company B.
Regards
CP
From India, Mumbai
PF Query-Please Help I want to know by whom PF Withdrawal form to be submitted in PF Office by employee or by employer Please refer the section of the act if any provision in the PF Act 1952.
From India, Delhi
From India, Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls