Dear All,
I have a query about PF.
I got an offer letter from an employer with salary stack where they shown PF contribution from company and pf deduction from my salary as 780 Rs only. The basic salary is 18821. Kindly suggest.
Regards,
KD
From India, Mumbai
I have a query about PF.
I got an offer letter from an employer with salary stack where they shown PF contribution from company and pf deduction from my salary as 780 Rs only. The basic salary is 18821. Kindly suggest.
Regards,
KD
From India, Mumbai
Dear Kalpesh
If your basic salary is Rs. 18821/- Pm, than i think your employer deduct the PF Contribution on @ 6500/- from your salary. Because PF wages Ceiling limit is Rs. 6500/- and you should clear your doubt from the HR Deptt., when you received your offer letter.
Regards
Amit kumar
From India, Delhi
If your basic salary is Rs. 18821/- Pm, than i think your employer deduct the PF Contribution on @ 6500/- from your salary. Because PF wages Ceiling limit is Rs. 6500/- and you should clear your doubt from the HR Deptt., when you received your offer letter.
Regards
Amit kumar
From India, Delhi
Dear Friend,
I agree with Mr. Amit. According to the company policy they deduct your PF on the ceiling amount of Rs. 6500/- @ 12%. This you should check up with your Management when they issue your appointment letter.
G.K.Manjunath
Sr. Manager-HR
From India, Bangalore
51I agree with Mr. Amit. According to the company policy they deduct your PF on the ceiling amount of Rs. 6500/- @ 12%. This you should check up with your Management when they issue your appointment letter.
G.K.Manjunath
Sr. Manager-HR
From India, Bangalore
The PF contribution constitutes 12@ of the basic salary by the Employer.
Your contribution (deduction from salary) would match this or you can enhance it to 20% of the basic salary.
Do note, that in the event you leave the company and encash this amount, the entire proceeds become taxable.
From India, Mumbai
Your contribution (deduction from salary) would match this or you can enhance it to 20% of the basic salary.
Do note, that in the event you leave the company and encash this amount, the entire proceeds become taxable.
From India, Mumbai
Dear Sir, Though the Basic Salary is Rs.18821/-, you are entitled for P.F.deduction 0n P.F.ceiling amount of Rs.6500/- i.e.6500X12%=780 only as per P.F Act. D.Gurumurthy HR/IR Consultant
From India, Hyderabad
From India, Hyderabad
it is correct .. its better u negotiate with them to have 12 % deduction from basic.. they can change . but again it depends your negotiation, u need to be firm on your demands
From India, New Delhi
From India, New Delhi
Dear KD,
It is very true that PF Wage ceiling is Rs. 6500/- and PF Contribution is Rs. 780/- for either end. But there is one more option by which you can make Voluntary contribution from your earning for each and every month. But in that case you can only receive your contribution with interest as you allowed the management to deduct from your salary but Management will give only 780/ to you from their end.
So if you want to earn more interest, then make voluntary contribution to your PF Account.
Regards,
Jagdeep K Vashishtha
HR Assistant
ITD PCL
From India, Palampur
It is very true that PF Wage ceiling is Rs. 6500/- and PF Contribution is Rs. 780/- for either end. But there is one more option by which you can make Voluntary contribution from your earning for each and every month. But in that case you can only receive your contribution with interest as you allowed the management to deduct from your salary but Management will give only 780/ to you from their end.
So if you want to earn more interest, then make voluntary contribution to your PF Account.
Regards,
Jagdeep K Vashishtha
HR Assistant
ITD PCL
From India, Palampur
Dear Friend,
comanly company policy they deduct your PF on the ceiling amount of Rs. 6500/- @ 12%. This you should check up with your Management when they issue your appointment letter For your infromation asper epf act you are exampted employee if you are newly joined means who are getting more than 6500/- per month at biging of his employement pf is not mandatry .
R.S PAGAD
ADVOCATE
From India, Hubballi
comanly company policy they deduct your PF on the ceiling amount of Rs. 6500/- @ 12%. This you should check up with your Management when they issue your appointment letter For your infromation asper epf act you are exampted employee if you are newly joined means who are getting more than 6500/- per month at biging of his employement pf is not mandatry .
R.S PAGAD
ADVOCATE
From India, Hubballi
Mr. R.S. Pagad,
It is not the policy of the Company what is is mandatory as per the provisions of PF Act..
"The maximum pensionable salary shall be limited to 19[Rupees six thousand and five hundred /Rs.6500/-] per month.
20[Provided that if at the option of the employer and employee, contribution paid on salary exceeding 21[Rupees six thousand and five hundred /Rs.6500/-] per month from the date of commencement of this Scheme or from the date salary exceeds 22[Rupees six thousand and five hundred /Rs.6500/-] whichever is later, and 8.33 per cent share of the employers thereof is remitted into the Pension Fund, pensionable salary shall be based on such higher salary.] 20. Inserted ibid w.e.f 16.3.96. 19 & 21 & 22 . Subs. By GSR 774 (E) dated the 8.10.2001 (w.e.f. 1.6.2001)"
Regards,
Jagdeep K Vashishtha
From India, Palampur
It is not the policy of the Company what is is mandatory as per the provisions of PF Act..
"The maximum pensionable salary shall be limited to 19[Rupees six thousand and five hundred /Rs.6500/-] per month.
20[Provided that if at the option of the employer and employee, contribution paid on salary exceeding 21[Rupees six thousand and five hundred /Rs.6500/-] per month from the date of commencement of this Scheme or from the date salary exceeds 22[Rupees six thousand and five hundred /Rs.6500/-] whichever is later, and 8.33 per cent share of the employers thereof is remitted into the Pension Fund, pensionable salary shall be based on such higher salary.] 20. Inserted ibid w.e.f 16.3.96. 19 & 21 & 22 . Subs. By GSR 774 (E) dated the 8.10.2001 (w.e.f. 1.6.2001)"
Regards,
Jagdeep K Vashishtha
From India, Palampur
Dear Friend
Normally PF is deducted on Basic, Every one knows the same
For Ex : In X co
A is an employee Basic Salary was Rs 15000/- PF is 1800/- and he is complected the service and resigned
In Y co
Above A is Joined basic Salary is Rs 25000/- PF is 780/-
This is not wrong
X co is followed by one method
y co is followed by one method
Normally PF act says
If the co has more than 20 emplyees you need to deduct PF
but the ceeling limit is Rs 6,500/- they are fixed
Regards
Suresh
From India, Hyderabad
Normally PF is deducted on Basic, Every one knows the same
For Ex : In X co
A is an employee Basic Salary was Rs 15000/- PF is 1800/- and he is complected the service and resigned
In Y co
Above A is Joined basic Salary is Rs 25000/- PF is 780/-
This is not wrong
X co is followed by one method
y co is followed by one method
Normally PF act says
If the co has more than 20 emplyees you need to deduct PF
but the ceeling limit is Rs 6,500/- they are fixed
Regards
Suresh
From India, Hyderabad
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.
Query.doc
PDF - Query.pdf
Query Releted TO Occupational Health Centre.zip