Hi, Please anyone send HRA excluded in EPF amendment gazette notification. (Old Amendment) Thanks Regards P Loganathan
From India, Chennai
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From India, Chennai
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HRA has been excluded in the definition itself.
Please refer to the following definition:
(b) “basic wages” means all emoluments that are earned by an employee while on duty or on leave or on holidays with wages in either case in accordance with the terms of the contract of employment and which are paid or payable in cash to him, but does not include— (i) the cash value of any food concession; (ii) any dearness allowance (that is to say, all cash payments by whatever name called paid to an employee on account of a rise in the cost of living), house-rent allowance, overtime allowance, bonus commission or any other similar allowance payable to the employee in respect of his employment or of work done in such employment; (iii) any presents made by the employer;
From India, Bangalore
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30Please refer to the following definition:
(b) “basic wages” means all emoluments that are earned by an employee while on duty or on leave or on holidays with wages in either case in accordance with the terms of the contract of employment and which are paid or payable in cash to him, but does not include— (i) the cash value of any food concession; (ii) any dearness allowance (that is to say, all cash payments by whatever name called paid to an employee on account of a rise in the cost of living), house-rent allowance, overtime allowance, bonus commission or any other similar allowance payable to the employee in respect of his employment or of work done in such employment; (iii) any presents made by the employer;
From India, Bangalore
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Hi,
As per the Employees' Provident Funds Scheme, 1952 (Scheme), contributions payable by an employee must be at the rate of 12% of the basic wages.
As per Section 2(b) of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (Act), 'basic wages' mean all emoluments earned by an employee in accordance with the terms of the contract of employment and paid, or payable in cash to the employee. The basic wages, however, do not include: (i) the cash value of any food concession; (ii) any dearness allowance, house-rent allowance, overtime allowance, bonus, commission, or any other similar allowance payable to the employer in respect of his employment or of work done in such employment; and (iii) any presents made by the employer.
From India, Madras
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As per the Employees' Provident Funds Scheme, 1952 (Scheme), contributions payable by an employee must be at the rate of 12% of the basic wages.
As per Section 2(b) of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (Act), 'basic wages' mean all emoluments earned by an employee in accordance with the terms of the contract of employment and paid, or payable in cash to the employee. The basic wages, however, do not include: (i) the cash value of any food concession; (ii) any dearness allowance, house-rent allowance, overtime allowance, bonus, commission, or any other similar allowance payable to the employer in respect of his employment or of work done in such employment; and (iii) any presents made by the employer.
From India, Madras
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No need of any notification, EPF Act clearly defines as HRA is excluded
From India, Bangalore
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From India, Bangalore
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Hi sir,
Could someone please clarify why some companies deduct EPF from basic salary + DA, while others deduct it from all salary components excluding HRA? My question is regarding the correct process as per the government gazette.
Regards, P. Loganathan - HR
From India, Chennai
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Could someone please clarify why some companies deduct EPF from basic salary + DA, while others deduct it from all salary components excluding HRA? My question is regarding the correct process as per the government gazette.
Regards, P. Loganathan - HR
From India, Chennai
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Hi,
If Basic+DA is equal to or above PF wage ceiling of Rs. 15,000/-, then there is no need to consider other components of Gross excluding HRA for PF deduction. Therefore, for such cases, only Basic+DA is considered for PF deduction.
Additionally, employees and employers, on mutual consent, can contribute to PF based on the actual Basic+DA even if the total exceeds Rs. 15,000/-.
From India, Madras
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If Basic+DA is equal to or above PF wage ceiling of Rs. 15,000/-, then there is no need to consider other components of Gross excluding HRA for PF deduction. Therefore, for such cases, only Basic+DA is considered for PF deduction.
Additionally, employees and employers, on mutual consent, can contribute to PF based on the actual Basic+DA even if the total exceeds Rs. 15,000/-.
From India, Madras
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EPF New Amendment.pdf