I am working as HR Executive in facility management company. When i joined in march 2014 CTC offered to me was 129490 (without PF facility), monthly gross salary was 10315 and monthly net was 9940 Rs. But due to revision in PF limit employer has not revised my CTC instead adjusted both the contribution in same CTC. So my monthly gross salary became 9295 (earlier 10315)and monthly net salary is now 7927rs (earlier 9940rs)
I request seniors to let me know if it is a correct practice to follow.
My Director says that CTC once fixed cannot be revised, so pf adjustment will be within the CTC offered.
Kindly guide me if it is correct.
Regards
Sheetal
From India, Mumbai
I request seniors to let me know if it is a correct practice to follow.
My Director says that CTC once fixed cannot be revised, so pf adjustment will be within the CTC offered.
Kindly guide me if it is correct.
Regards
Sheetal
From India, Mumbai
The action of your company is illegal.
This has been discussed many times on this forum in the last few months. Wish you had bothered to search the threads on this topic.
Ctc is not recognised in law. Only gross salary is recognised. The PF act very clearly states that the salary of a person can not be reduced to pay partly of wholly the employers contribution to PF. While net salary will go down as the amount of employees contribution goes up, the employers contribution can not be recovered.
The conoanynwill be liable to differential wages, penalty and even possibly a criminal persecution.
From India, Mumbai
2395This has been discussed many times on this forum in the last few months. Wish you had bothered to search the threads on this topic.
Ctc is not recognised in law. Only gross salary is recognised. The PF act very clearly states that the salary of a person can not be reduced to pay partly of wholly the employers contribution to PF. While net salary will go down as the amount of employees contribution goes up, the employers contribution can not be recovered.
The conoanynwill be liable to differential wages, penalty and even possibly a criminal persecution.
From India, Mumbai
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