Dear Sir/mam, Could you please tell me about the total funding scheme of the epf, which incliudes edli,pf,pension fund,govt. contribution. Ijudt want to know the contribution of each. Regrds Vikas
From India, Delhi
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From India, Delhi
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Generally, the PF contribution is 12% each from the employee and employer. Out of the employer's 12%, 8.33% will go to the Pension Fund and the balance to the PF. Additionally, the Central government will contribute 1.16% to the pension fund.
For the Employees' Deposit Linked Insurance (EDLI), the employer has to contribute 0.5%. Moreover, the employer has to pay administration charges at 1.1% and 0.01% to PF and EDLI, respectively. If they do not remit to the PF, inspection charges at 0.18% and 0.05% are payable.
Abbas. P. S
From India, Bangalore
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530For the Employees' Deposit Linked Insurance (EDLI), the employer has to contribute 0.5%. Moreover, the employer has to pay administration charges at 1.1% and 0.01% to PF and EDLI, respectively. If they do not remit to the PF, inspection charges at 0.18% and 0.05% are payable.
Abbas. P. S
From India, Bangalore
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Dear Mr. Abbas thnk u very much for ur reply. I hve known total funding in epf is 25.61%, Could you plz provide me break up for the same. Regrds Vikas
From India, Delhi
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From India, Delhi
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Hi, Pls find attached cal sheet for epf bifercation. Thanks Bijay
From India, Vadodara
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From India, Vadodara
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If a PF Trust monitored by the employer provides equal or better benefits, they will get exempted from remitting to PF. In such cases, the PF accounts will be operated by these Trusts. Accordingly, no administration charges will be payable to PF; instead, an inspection charge @ 0.18% has to be remitted to PF.
Abbas.P.S
From India, Bangalore
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Abbas.P.S
From India, Bangalore
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If the contribution is 25.61, the split up will be 12 (employee)+12 (employer)+1.1 (admin charge)+0.5 (EDLI). But what about EDLI admin charge? Abbas.P.S
From India, Bangalore
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From India, Bangalore
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Dear Sir, If I withdraw the PF, what amount should I get? If anyone highlights this with example on this I will be grateful. Regards, Prdip Das
From India, Mumbai
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From India, Mumbai
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12 (employee on total salary) + 12 (employer) + 1.1 (admin charges) + 0.01 (inspection charges) + 0.5 (EDLI) = 25.61 ... tadda!!
1. 12% by the employee of the total salary, account no. 1.
2. Out of the employer's 12%, 8.33 goes to pension fund account no. 10 (that is calculated on total pension wages, i.e., the maximum amount is Rs. 6500), and the rest 3.67% goes to the provident fund account 1 (i.e., actually equals to 12% from the employee - 8.33% of that goes to the pension fund).
3. Administration charges 1.1% in account no. 2.
4. Inspection charges 0.01% in account no. 22.
5. EDLIS 0.5% in account no. 21.
I'll attach a file soon for better understanding.
From India, Calcutta
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1. 12% by the employee of the total salary, account no. 1.
2. Out of the employer's 12%, 8.33 goes to pension fund account no. 10 (that is calculated on total pension wages, i.e., the maximum amount is Rs. 6500), and the rest 3.67% goes to the provident fund account 1 (i.e., actually equals to 12% from the employee - 8.33% of that goes to the pension fund).
3. Administration charges 1.1% in account no. 2.
4. Inspection charges 0.01% in account no. 22.
5. EDLIS 0.5% in account no. 21.
I'll attach a file soon for better understanding.
From India, Calcutta
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Dear sir,
Your above quote is true, but this will need a slight modification, which I am going to make. I hope you don't mind.
A/C 1. = 12% (employee share) + 3.67% (employer share) of the EPF salary.
A/C 2. = 1.1% of EPF salary.
A/C 10 = 8.33% of EPS salary (deduction on pen. salary, whose ceiling is Rs. 6500/- pm).
A/C 21 = 0.5% of EDLI salary (ceiling is up to Rs. 6500/-).
A/C 22 = 0.01% of EDLI Salary (ceiling is up to Rs. 6500/-).
Thanks & Regards,
From,
Sumit Kumar Saxena
+91-9899669071
From India, Ghaziabad
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Your above quote is true, but this will need a slight modification, which I am going to make. I hope you don't mind.
A/C 1. = 12% (employee share) + 3.67% (employer share) of the EPF salary.
A/C 2. = 1.1% of EPF salary.
A/C 10 = 8.33% of EPS salary (deduction on pen. salary, whose ceiling is Rs. 6500/- pm).
A/C 21 = 0.5% of EDLI salary (ceiling is up to Rs. 6500/-).
A/C 22 = 0.01% of EDLI Salary (ceiling is up to Rs. 6500/-).
Thanks & Regards,
From,
Sumit Kumar Saxena
+91-9899669071
From India, Ghaziabad
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