Hi,
My name is Rachel and I am a newly-appointed HR Executive in my company. I would like to clarify one detail - which is the PF that is shown as a deduction in employee's salary slip? Is it employer's contribution (12% of basic) or employee's contribution or both? Also, if the amount is employer's contribution, where is employee's contribution shown?
Thanks & best regards.
From India, Mumbai
My name is Rachel and I am a newly-appointed HR Executive in my company. I would like to clarify one detail - which is the PF that is shown as a deduction in employee's salary slip? Is it employer's contribution (12% of basic) or employee's contribution or both? Also, if the amount is employer's contribution, where is employee's contribution shown?
Thanks & best regards.
From India, Mumbai
117
Avika is right, employee contribution is shown in the salary slip.
For more HR related information:White Eagle
From India, Hyderabad
For more HR related information:White Eagle
From India, Hyderabad
Hi Avika & White Eagle,
Thanks for ur reply. One more clarification - suppose a candidate's CTC includes PF (at 12% of basic). Is this PF employee or employer's contribution? Does this mean that the PF in the CTC is just the company's way of giving less in hand and putting 12% of the basic into Voluntary PF?
From India, Mumbai
Thanks for ur reply. One more clarification - suppose a candidate's CTC includes PF (at 12% of basic). Is this PF employee or employer's contribution? Does this mean that the PF in the CTC is just the company's way of giving less in hand and putting 12% of the basic into Voluntary PF?
From India, Mumbai
Hi Rachel,
Employee pf contribution shown in the salary slip that is 12% on basic and employer pf contribution shown in CTC that is 12% on basic in this 12% (3.67% goes to Providend fund and 8.33 % goes to pension fund) so total 12%. These percentage are fixed by the government, employers must pay the contribution.
I hope u clear.
From India
Employee pf contribution shown in the salary slip that is 12% on basic and employer pf contribution shown in CTC that is 12% on basic in this 12% (3.67% goes to Providend fund and 8.33 % goes to pension fund) so total 12%. These percentage are fixed by the government, employers must pay the contribution.
I hope u clear.
From India
Hi Avika, What is the pecentage that an employee can contribute if he wants to contribute more then 12% of his Basic? Regards Ankur Jain
From India
From India
Dear Ankur,
If employee want to increase his share in PF then he can. PF act is not clear on maximum limit but PF authorities accept 12% statutorily contribution+12% voluntorily contribution of employee and they donot accpt inbetween formula. If we see payment of wages act it says total deduction can not be more than 50% from employee salary including everything.
Take written application from employee for increasing there contribution in pf clearly mentioning how much they want to contribute. company limit is fixed.
For more HR related information:White Eagle: PF Query
From India, Hyderabad
If employee want to increase his share in PF then he can. PF act is not clear on maximum limit but PF authorities accept 12% statutorily contribution+12% voluntorily contribution of employee and they donot accpt inbetween formula. If we see payment of wages act it says total deduction can not be more than 50% from employee salary including everything.
Take written application from employee for increasing there contribution in pf clearly mentioning how much they want to contribute. company limit is fixed.
For more HR related information:White Eagle: PF Query
From India, Hyderabad
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SALARY with out PF Deduction.xls