Hi All
I have one query regarding "The Employee's Provident Fund Act" & "The Employees State Insurance Act".
I want to know the Applicability of PF & ESI to Employees who is working under "Probation Period."
For Example, I am working in a BPO/ITES Company for the last 2 months. I am still in Probation period, is the company/Employer is liable to Provident Fund and ESI or The company can start paying me PF & ESI only after my Permanent Appointment.
& if they sack me after paying one month's PF & ESI,
What step should I follow to get back my PF deposits?
What step should Employer take to close my PF account. Is there any legal Obligation to be followed?
Please help me out.
Thanks & Regards
Debu
From India, Gurgaon
I have one query regarding "The Employee's Provident Fund Act" & "The Employees State Insurance Act".
I want to know the Applicability of PF & ESI to Employees who is working under "Probation Period."
For Example, I am working in a BPO/ITES Company for the last 2 months. I am still in Probation period, is the company/Employer is liable to Provident Fund and ESI or The company can start paying me PF & ESI only after my Permanent Appointment.
& if they sack me after paying one month's PF & ESI,
What step should I follow to get back my PF deposits?
What step should Employer take to close my PF account. Is there any legal Obligation to be followed?
Please help me out.
Thanks & Regards
Debu
From India, Gurgaon
As per the Act, all probationers are eligible for PF / ESI deducation, compulsorily.
U will be eligible for PF if ur basic salary is below Rs. 6500 and will also be eligible if ur gross salary is below Rs. 10000.
ESI deductions cannot be refunded where as PF deductions with the equal company contributions will be refunded and you will have to submit the application through your company after three months of your leaving, the same will be processed and reimbursed to you within one month from the date of receipt of your application at the respective PF office.
regards,
gandhi24x7
From India, Kodaikanal
1U will be eligible for PF if ur basic salary is below Rs. 6500 and will also be eligible if ur gross salary is below Rs. 10000.
ESI deductions cannot be refunded where as PF deductions with the equal company contributions will be refunded and you will have to submit the application through your company after three months of your leaving, the same will be processed and reimbursed to you within one month from the date of receipt of your application at the respective PF office.
regards,
gandhi24x7
From India, Kodaikanal
Dear friends,
i have joined in a new company and im a fresher.The matter is that in this company there was no HR dpt now im the first person,so now first assignment is to frame the PF & Gratuity and i have to bring in the new salary structure in which details have to b given in written to everyone whose basic is changed for these calculations.
So what i mean is for HRA:U SHOULD SUBMIT THE RENTAL RECEIPTS, for medical:ushould submit the bills and now for LIC what should i write and other benefits?
can anyone guide me in this.
rekha
From India, Mumbai
i have joined in a new company and im a fresher.The matter is that in this company there was no HR dpt now im the first person,so now first assignment is to frame the PF & Gratuity and i have to bring in the new salary structure in which details have to b given in written to everyone whose basic is changed for these calculations.
So what i mean is for HRA:U SHOULD SUBMIT THE RENTAL RECEIPTS, for medical:ushould submit the bills and now for LIC what should i write and other benefits?
can anyone guide me in this.
rekha
From India, Mumbai
Dear Gandhi, Thank you very much for your response. Please guide me with " what a company need to do to close PF & ESI account of an Employee when he resigns" Regards Debu
From India, Gurgaon
From India, Gurgaon
Hi As you said that for E.P.F the limit for basic is Rs. 6500/-. My query is how to exempt from E.P.F if an employee has basic more than Rs. 6500/-. Regards Param
From India, Delhi
From India, Delhi
PF & Esi are mandatory to the employer who recriute the employees more than 20 and 10 for esi with the power. the calculation for the pf is 12% on the basic which will be deducted from the employee salary and the from the employer side i.e 8.33% to pension sheme & 3.67% to the PF. The calculation for the ESI is purely based on gross earnings i.e 10,000/- & below and the deduction from the employer side is 4.75% & 1.75% from the employee side. the PF amount has to be remitted to the SBI bank before 15 of every coming month and the returns should be forwarded to EPF office on or before 25th of the coming month. The ESI amount has to remitted on or befor 21st of every coming month in priscribed challan to SBI.
You have said that PF to be contributed at 12% i.e employee and employer contribution equal which was also my understanding till nowbut i have recd this new informn about employers contributionPension Fund : 8.33%EPF : 3.67% EDLI : 0.5%EPF Admin Chg 1.1%DLI Admin Chg 0.01% How do you pass the accounting entry for this.I am confused can you please let me know on 
really find it difficult to find feedback to my queries since i m new to the forum.ThanksPari
From India, Mumbai
From India, Mumbai
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PF & ESI.zip
Presentation PF&ESI.ppt
Exp.and esi pf mis format.xls