Dear All, What if any employee want to exceed his contribution part i.e. an employee has wages 51500 (Basic + DA) and he want that company would deduct 4500 Rs. per month. Is it ok?
From India, Delhi
From India, Delhi
Yes company can deduct the same amount but they wont pay the same amount. The company shall contribute only Rs. 885/- Regards, CK Agrawal Sr. Ecxecutive HR
From India, Delhi
From India, Delhi
Under voluntary PF contribution employee can extend his PF contribution upto 80% of wages (Basic+DA) but employer contribution will be fixed to 12% only.
Fill the voluntary PF form for increasing your contribution. It will be vice decision and good mode of saving for old days.
From India, Hyderabad
22Fill the voluntary PF form for increasing your contribution. It will be vice decision and good mode of saving for old days.
From India, Hyderabad
Dear All,
As per the EPF Act,1952,
1)The Employee contribution shall be 12% of Basic Salary Plus DA if any.
2) The Employer's Liability of PF contribution will be on Rs.6500/- i.e., Rs.780 Pm.
For Ex : if one's Basic salary is Rs.7500, his PF contribution will be Rs.900 and Employer's liability will be restricted to Rs.780/-
3) In case if the employee is in CTC, the employers's liability may be matching contribution or Rs.780/-.depends on salary negotiation.
The last but least, the company's contribution is restricted to Rs.780/-. But some company's are paying the matching contribution also.
Feel free to contact the undersigned in Mobile no 9949218492
Warm Regards,
P.V.R.SHARMA
From India, Eluru
As per the EPF Act,1952,
1)The Employee contribution shall be 12% of Basic Salary Plus DA if any.
2) The Employer's Liability of PF contribution will be on Rs.6500/- i.e., Rs.780 Pm.
For Ex : if one's Basic salary is Rs.7500, his PF contribution will be Rs.900 and Employer's liability will be restricted to Rs.780/-
3) In case if the employee is in CTC, the employers's liability may be matching contribution or Rs.780/-.depends on salary negotiation.
The last but least, the company's contribution is restricted to Rs.780/-. But some company's are paying the matching contribution also.
Feel free to contact the undersigned in Mobile no 9949218492
Warm Regards,
P.V.R.SHARMA
From India, Eluru
i cant understand your people calculation
please explain me the same
As per me 12 % deduction from the side of employee and 12 % from the employer
under voluntary PF scheme employee can go for maximum up to 8%.
so total deduction can not exceed 20%.
From India, Ahmadabad
please explain me the same
As per me 12 % deduction from the side of employee and 12 % from the employer
under voluntary PF scheme employee can go for maximum up to 8%.
so total deduction can not exceed 20%.
From India, Ahmadabad
Hi Bhargavi, As per my understanding Voluntary PF can go upto 80% not 8%. Pls correct me if i am wrong.
From India, Hyderabad
From India, Hyderabad
Voluntary higher contribution for PF can be done more than 8 %. The only thing regarding VPF is that once it has been increased it cannot be reduced back, without the consent of the concerned area PF commissioner.
Regards
M.Venkatraghavan
From India, Selam
Regards
M.Venkatraghavan
From India, Selam
I do agree with the views of White Eagle as Voluntary PF can go up to 80% and also agree with Mr. Venkatraghvan as once it has been increased, it can not be reduced back without the consent of the concerned area PF commissioner.
Regards,
Dinesh Adikane
From India, Wardha
Regards,
Dinesh Adikane
From India, Wardha
As per the Act, the member has to contribute at the rate of 10% or 12% of his basic pay, D.A. & retaining allowance if any.
In case the member wants to contribute more than this, voluntarily he can do so at any rate he desires. i.e. upto 100% of basic and D.A. But the employer is not bound to contribute at the enhanced rate.
All the best
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From India, Vijayawada
In case the member wants to contribute more than this, voluntarily he can do so at any rate he desires. i.e. upto 100% of basic and D.A. But the employer is not bound to contribute at the enhanced rate.
All the best
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From India, Vijayawada
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