Hi Everybody,
I have gone through everybody's reply, let me clarify a bit more A/c wise.
A/c 1....15.67% (12% employee share+3.67% employer share)
A/c 10... 8.33% ( Employer share)
A/c 2......1.10% of wages (Basic+DA)
A/c 21.....0.5% ---do-----
A/c 22.....0.01% ----do-----(subject to min.of Rs.2/-)
Here I am facing a problem also, please do let me know if any one
can help me in this regard.
Can any one guide me , on what wages PF is applicable. So far my knowledge says it is on normal wages only as mentioned above replies. But we are being asked by PF Authorities to deposit the Contribution on OT Wages also (where ever paid), both Employees/ Employers share in arrears with Interest and Damages.. They are framing us under Sec 7A, Evasion of wages.
Can any one help us in this matter. How OT is being calculated for PF Contribution and being framed under as Evasion of wages?
Early reply will highly appreciated.
Thanks
Regards
Harminder Singh
From India, Raurkela
8I have gone through everybody's reply, let me clarify a bit more A/c wise.
A/c 1....15.67% (12% employee share+3.67% employer share)
A/c 10... 8.33% ( Employer share)
A/c 2......1.10% of wages (Basic+DA)
A/c 21.....0.5% ---do-----
A/c 22.....0.01% ----do-----(subject to min.of Rs.2/-)
Here I am facing a problem also, please do let me know if any one
can help me in this regard.
Can any one guide me , on what wages PF is applicable. So far my knowledge says it is on normal wages only as mentioned above replies. But we are being asked by PF Authorities to deposit the Contribution on OT Wages also (where ever paid), both Employees/ Employers share in arrears with Interest and Damages.. They are framing us under Sec 7A, Evasion of wages.
Can any one help us in this matter. How OT is being calculated for PF Contribution and being framed under as Evasion of wages?
Early reply will highly appreciated.
Thanks
Regards
Harminder Singh
From India, Raurkela
Dear Anita,
Please understand the whole process of PF & ESIC by reading the books available in the market.
Senior persons will guide you on any of the matter in your career which solve your problem. But for this you have to take very much extra effort for your basic preparation for any subject.
Answer to your question is, there are deductions of PF & ESIC contribution from employees salary. While depositing the share of PF & ESIC vide challans employers contributions were calculated (for PF 13.61% & ESIC 4.75%) & both the shares (employee & employer) is deposited in the bank. PF is divided in to five accounts ie A/c1(3.67%&12%),A/c2(1.10%),A/c10(8.33%),A/c21(0.5%)&A/c22 (0.01%)
To understand this calculations you will have to prepare challans of your organisatio by yourself. Get checked from your senior or consultat. Because there are very small things to be considered while calculations.
Vinay Shedge
9850062122
Please understand the whole process of PF & ESIC by reading the books available in the market.
Senior persons will guide you on any of the matter in your career which solve your problem. But for this you have to take very much extra effort for your basic preparation for any subject.
Answer to your question is, there are deductions of PF & ESIC contribution from employees salary. While depositing the share of PF & ESIC vide challans employers contributions were calculated (for PF 13.61% & ESIC 4.75%) & both the shares (employee & employer) is deposited in the bank. PF is divided in to five accounts ie A/c1(3.67%&12%),A/c2(1.10%),A/c10(8.33%),A/c21(0.5%)&A/c22 (0.01%)
To understand this calculations you will have to prepare challans of your organisatio by yourself. Get checked from your senior or consultat. Because there are very small things to be considered while calculations.
Vinay Shedge
9850062122
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