Hello everyone
we deduct 12% of BS and if the employees will be absent, their salaries are deducted and hence BS becomes less every month and the PF contribution is changing every month.
our company want to apply the rule of including the employee and employer contribution in the CTC and want to deduct the double pf from ctc i.e both the employee and employer contribution, then how the pf should be deducted i.e either some fixed amount of PF should be deducted every month (including both contributions) or 24% of basic salary every month.
Plz reply
thanks and regards
Meenu
From India, Delhi
3we deduct 12% of BS and if the employees will be absent, their salaries are deducted and hence BS becomes less every month and the PF contribution is changing every month.
our company want to apply the rule of including the employee and employer contribution in the CTC and want to deduct the double pf from ctc i.e both the employee and employer contribution, then how the pf should be deducted i.e either some fixed amount of PF should be deducted every month (including both contributions) or 24% of basic salary every month.
Plz reply
thanks and regards
Meenu
From India, Delhi
Dear sir,
If PF deduction of both employee & employer is part of CTC then deduction will also be depend upon monthly payment of Basic+DA+Retention Allowance if any. You can not fix it on 24%. (exactly it should be 25.67%).
You will show the dedutions from salary in heads of employee & employer seperately indepndently & it is not depend whether you are deducting solely from employee salary or employer is contributing its part.
Regards
From India, Pune
If PF deduction of both employee & employer is part of CTC then deduction will also be depend upon monthly payment of Basic+DA+Retention Allowance if any. You can not fix it on 24%. (exactly it should be 25.67%).
You will show the dedutions from salary in heads of employee & employer seperately indepndently & it is not depend whether you are deducting solely from employee salary or employer is contributing its part.
Regards
From India, Pune
Dear sir..
in continuation of this discussion i want to know that....
employee should contribute 12% and same contribution by employer ... and both shown in our ctc.
the remaining 1.67%(admin and edli charges) where this should be adjusted ... as its also kind of costing towards company than y it is not shown in ctc...
Regards
From India, Delhi
in continuation of this discussion i want to know that....
employee should contribute 12% and same contribution by employer ... and both shown in our ctc.
the remaining 1.67%(admin and edli charges) where this should be adjusted ... as its also kind of costing towards company than y it is not shown in ctc...
Regards
From India, Delhi
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PF not applicable on CTC 18.3.2014.pdf
CTC Calculator with PT, PF and ESIC.xls