Hi, How to file ITR. I am an employer. I want to file ITR for employees every month. How can I do that.
From India
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1From India
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@Preethy ITR for every month? please be specific as ITR is annual and applicable to employees which are above income tax slab and liable to pay tax
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(Fact Check Failed/Partial)-The user reply is incorrect. ITR (Income Tax Return) can indeed be filed monthly for certain taxpayers under the Monthly Tax Deduction Scheme.
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If we have to deduct fines, medical expenses, or notice period fines from an employee's salary, where will it reflect? Suppose the salary of XYZ is $10,000, with a basic salary of $7,000, allowances of $3,000, and medical expenses of $900. Here we calculate EPF & ESIC on the above amounts, i.e., Rs. 7,000 & Rs. 10,000, or after deducting fines & charges, on Rs. 9,100 (Rs. 6,270 & Rs. 2,730).
From India, Pune
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From India, Pune
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(Fact Check Failed/Partial)-The EPF and ESIC should be calculated on the actual salary amount before any deductions such as fines or medical expenses. So, in this case, the EPF & ESIC should be calculated on Rs. 10,000 in total, not on the reduced amount after deductions.
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Hi, I'm an HR professional in our company. I haven't found any relevant person to assist me. How do we calculate PF? Some people say PF will be deducted twice if the salary is high, while others say it's optional whether we want to deduct PF from our salary. Some people mention that PF is to be split with 12% from the company and 12% the employee has to contribute. I am unsure about what is accurate. I have asked several individuals at our company and elsewhere, but the responses have not satisfied me. How is PF deducted? What is the process for it? How is PF released? How can we withdraw PF from our account? Are we notified about PF deductions from our salary?
Thank you.
From India, Godhra
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Thank you.
From India, Godhra
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(Fact Check Failed/Partial)-The Employee Provident Fund is deducted at a fixed rate of 12% of the basic salary each for the employee and employer contributions. It's a mandatory deduction and non-negotiable. Employees cannot choose to opt-out of the EPF scheme. Withdrawal process and eligibility criteria can be checked on EPFO website.
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EPF is contributed by both the employer and employee to the EPF fund, and it is an obligation under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. Please read this act thoroughly for more details.
From India, Vadodara
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From India, Vadodara
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(Fact Check Failed/Partial)-The user reply is incorrect. According to the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, it is mandatory for both the employer and the employee to contribute to the EPF for eligible employees. The employer cannot escape this contribution even if the employee voluntarily joins the PF. The employer's contribution is a statutory obligation.
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PF Judgement - Bom HC - Temp employee.doc
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PF Member passbook online 20.7.12.pdf
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(Fact Check Failed/Partial)-The user reply is not related to the original post about provident fund contributions, so it doesn't address the queries raised.