hi all really cite hr is a very useful forum,helping the hr community a lot..feel happy to be a member of cite hr regards sl.bala sandhya
From India, Madras
2From India, Madras
hi as per my knowledge the total pf contribution is 24% + 1.61% =25.61%
here 24% means 12% frm employee and 12% frm employer and remaining 1.61% is for pf admin charges and in this 12% employee contribution 8.33% is for eps and 3.67% is for epf.
From India, Hyderabad
here 24% means 12% frm employee and 12% frm employer and remaining 1.61% is for pf admin charges and in this 12% employee contribution 8.33% is for eps and 3.67% is for epf.
From India, Hyderabad
Dear Bala,
The PF contribution is 12% both from employer & employee side. 12% is compulsory but in case employee wants he/she can increase the % of share of PF from the basic salary but employer contribution remains the same. There is no obligation on employer to increase their % of share on vpf.
In case of more clarification feel free to get in touch on
.
Regards
Shikha Jain
From India, Bangalore
The PF contribution is 12% both from employer & employee side. 12% is compulsory but in case employee wants he/she can increase the % of share of PF from the basic salary but employer contribution remains the same. There is no obligation on employer to increase their % of share on vpf.
In case of more clarification feel free to get in touch on
Regards
Shikha Jain
From India, Bangalore
Dear,
According to me, employee can invest maximum of 27% of his salary (Basic + any DA + Food concession, if any) towards PF Contributions.
As most of the companies are bound to pay 12% PF, employees have a provision to contribute remaining 15% towards VPF.
However, Company contributes to the tune of 12% only.
Example:
Salary - Rs.10,000.00
Employee Cont - Rs. 1,200.00
Co.share to EPF - Rs. 659.00
Co.share to FPS - Rs. 541.00
Employee share towrads VPF (Max 15%) - Rs.1500.00
However, under the current interest rates and ivestment patterns and more options available (like PPF / MFs) the VPF has no major attraction in employee community. This was in practice in early years as many employees' savings are only through 'Forced' deductions.
Thanks & Best Regards,
Venkat
According to me, employee can invest maximum of 27% of his salary (Basic + any DA + Food concession, if any) towards PF Contributions.
As most of the companies are bound to pay 12% PF, employees have a provision to contribute remaining 15% towards VPF.
However, Company contributes to the tune of 12% only.
Example:
Salary - Rs.10,000.00
Employee Cont - Rs. 1,200.00
Co.share to EPF - Rs. 659.00
Co.share to FPS - Rs. 541.00
Employee share towrads VPF (Max 15%) - Rs.1500.00
However, under the current interest rates and ivestment patterns and more options available (like PPF / MFs) the VPF has no major attraction in employee community. This was in practice in early years as many employees' savings are only through 'Forced' deductions.
Thanks & Best Regards,
Venkat
Dear all, i want help in forming the hr policy for a new organization as i am also new in this field pls help
From India, Mumbai
From India, Mumbai
Dear All,
Enclosed is the doc on salient features of PF.
Same can be downloaded from DKM Online - Download Section
Hope this is helpfull to all of us.
Regards,
Atishai
From India, Delhi
Enclosed is the doc on salient features of PF.
Same can be downloaded from DKM Online - Download Section
Hope this is helpfull to all of us.
Regards,
Atishai
From India, Delhi
hi 2 all,
Voluntary PF is the contribution of employee's own contribution and not from the employer side and has no limit. In our company it is restricted and compulsory to 12% from employer side but it can be more than 12% from employee side.
thx
Tajender K Bajaj
From India, Dehra Dun
Voluntary PF is the contribution of employee's own contribution and not from the employer side and has no limit. In our company it is restricted and compulsory to 12% from employer side but it can be more than 12% from employee side.
thx
Tajender K Bajaj
From India, Dehra Dun
Hi, Can the employer restrict himself from paying PF contribution to employee earniong above Rs.6500. What is the legal procedure? Please update me
From India, Madras
From India, Madras
nothing there is a limit of Rs. 6500/- in EPF Act and according to that employers are required to contribute @ 6500/-. But if basic salary of a employee is more than 6500/- at time of joining and employee is not in favour of epf than employer has to taken form 11 from employee. But employers are not required to contribute on full basic i.e, above 6500/-. One more thing if a employee is covered under the epf act and after increment his basic salary increses and moves more then 6500/- then in this case he is also required to contribute till his service @6500/-.
From India, New Delhi
From India, New Delhi
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Voluntary PF.doc
HC All - Trainees not covered for PF -2010.pdf