Dear Bharat,
Once again, you cannot withdraw Pension. You receive it as a monthly amount. This amount vests with the RPF Office (Regional Provident Fund Office). After superannuation, you fill out Form 10D of the PF & MP Act and submit it to the RPF Office for the same.
One more thing: I am Nilendra, not Neeraj.
Acknowledge(0)
Amend(0)
18Once again, you cannot withdraw Pension. You receive it as a monthly amount. This amount vests with the RPF Office (Regional Provident Fund Office). After superannuation, you fill out Form 10D of the PF & MP Act and submit it to the RPF Office for the same.
One more thing: I am Nilendra, not Neeraj.
Acknowledge(0)Amend(0)
Dear Sir,
This is K. Ravi Kumar from Hyderabad. I have some doubts regarding P.F., mostly related to the employer's contribution. According to the rule, 12% comes from the employee and 12% from the employer.
Here I am enclosing the salary slips of three members, including mine. Could you please inform me about the employer's contribution practically?
PLEASE TELL ME THE EMPLOYER CONTRIBUTION.
With Regards,
K. Ravi Kumar
E-mail: kasinaravikumar@gmail.com
Ph: 09989111149
From India, Hyderabad
Acknowledge(0)Amend(0)
This is K. Ravi Kumar from Hyderabad. I have some doubts regarding P.F., mostly related to the employer's contribution. According to the rule, 12% comes from the employee and 12% from the employer.
Here I am enclosing the salary slips of three members, including mine. Could you please inform me about the employer's contribution practically?
PLEASE TELL ME THE EMPLOYER CONTRIBUTION.
With Regards,
K. Ravi Kumar
E-mail: kasinaravikumar@gmail.com
Ph: 09989111149
From India, Hyderabad
Acknowledge(0)Amend(0)
Dear Amit. I have a query. Some company deduct 24% from the employee salary.. is that fare.. Pls reply Sunil
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Dear Ravi, Your Basic is 4750.
Employer Contribution: 12% of 4750 = 570 (Since basic is less than 6500, so the entire basic will be considered).
Further employer contribution is broken into the following two components:
- Towards Employee Provident Fund 8.33%
- Towards EPS (Employee Pension Scheme) 3.67%
Therefore, 395.67 will go to the Employee Provident Fund, and 174.33 will go towards EPS (Employee Pension Scheme). I hope this clarifies your doubt.
Dear Sunil,
A company cannot deduct 24% from an employee's salary without the consent of the concerned employee.
Acknowledge(0)Amend(0)
Employer Contribution: 12% of 4750 = 570 (Since basic is less than 6500, so the entire basic will be considered).
Further employer contribution is broken into the following two components:
- Towards Employee Provident Fund 8.33%
- Towards EPS (Employee Pension Scheme) 3.67%
Therefore, 395.67 will go to the Employee Provident Fund, and 174.33 will go towards EPS (Employee Pension Scheme). I hope this clarifies your doubt.
Dear Sunil,
A company cannot deduct 24% from an employee's salary without the consent of the concerned employee.
Acknowledge(0)Amend(0)
Hello, Friend,
PF contributes 12% from both the employee and employer. The PF salary also depends on the employer's choice, i.e., fixed at Rs.6,500/-, but the employer may be willing to pay a higher wage salary (Basic + D.A). This depends on the individual employer's discretion.
From India, Pune
Acknowledge(0)Amend(0)
PF contributes 12% from both the employee and employer. The PF salary also depends on the employer's choice, i.e., fixed at Rs.6,500/-, but the employer may be willing to pay a higher wage salary (Basic + D.A). This depends on the individual employer's discretion.
From India, Pune
Acknowledge(0)Amend(0)
Hi! As far as I know, PF will surely be deducted if the company has a rule of deducting PF. Otherwise, it again depends on the employee's discretion whether he wants his PF to be deducted or not.
I too wanted to ask a question. If any employee has joined in the middle of the month, should his PF be deducted for the whole month or only for the number of days worked? Please clarify.
Regards,
Nilima
From India, Gurgaon
Acknowledge(0)Amend(0)
I too wanted to ask a question. If any employee has joined in the middle of the month, should his PF be deducted for the whole month or only for the number of days worked? Please clarify.
Regards,
Nilima
From India, Gurgaon
Acknowledge(0)Amend(0)
Dear Neelima, If any person join in the month of MID, his PF will be deduted on working days.. regads RAJNISH SAPRA
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Yes, PF is deducted for the number of days worked in a month.
Regarding PF deduction, if an employee is working for an organization where PF is not deducted and subsequently joins a company where PF is deducted, then it is at the discretion of the employee whether he wants to join PF or not. However, if he has been working for a company where PF was deducted and subsequently joins an organization where PF is deducted, then he cannot discontinue his PF contributions.
Acknowledge(0)Amend(0)
Regarding PF deduction, if an employee is working for an organization where PF is not deducted and subsequently joins a company where PF is deducted, then it is at the discretion of the employee whether he wants to join PF or not. However, if he has been working for a company where PF was deducted and subsequently joins an organization where PF is deducted, then he cannot discontinue his PF contributions.
Acknowledge(0)Amend(0)
Yes, the company has to deduct PF at a rate of 12% from the employee's salary. It depends on the employer whether they choose to deduct PF on a basic salary exceeding 6500/-. If they wish to do so, they can deduct it.
In this scheme, both the employer and the employee contribute 12% of the annual income towards the fund. Out of this 24% contribution, 8.33% is allocated towards the family pension plan. The remaining portion (15.67%) grows at a rate of 9.5% per annum, with this return guaranteed. Additionally, investments up to a maximum of Rs. 70,000/- per annum are not taxed.
From India, Mumbai
Acknowledge(0)Amend(0)
In this scheme, both the employer and the employee contribute 12% of the annual income towards the fund. Out of this 24% contribution, 8.33% is allocated towards the family pension plan. The remaining portion (15.67%) grows at a rate of 9.5% per annum, with this return guaranteed. Additionally, investments up to a maximum of Rs. 70,000/- per annum are not taxed.
From India, Mumbai
Acknowledge(0)Amend(0)
My salary for the month of December '07 paid for 30 days as my employer deducted 1 day for excess EL. My basic salary per month is 15,000, so for 30 days, my basic is 14,516. My employer has contributed Rs. 755/- towards PF instead of 780/-, i.e., 12% of 6,500/-. Is it correct? I think my basic for 30 days is 14,516, so the PF contribution should be 12% on 6,500/-, i.e., 780/-. Can anybody clarify.
Regards,
Soum
Email: Soumpat3@gmail.com
From India, New Delhi
Acknowledge(0)Amend(0)
Regards,
Soum
Email: Soumpat3@gmail.com
From India, New Delhi
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
PF Ledger.xls