current pf contribution rate has been changed or not? i found in googles a PDF file, (link epfindia.com pdf/contributionsRate.pdf) there o.o5% is calculating individual round off basis. Is it correct or not. Pls confirm the same
From India, Bangalore
3From India, Bangalore
Hello Monjita,
There is no change in the PF rate, the bifurcation is as below.
a) A/C No. 1 EPF (3.67% of employer share & 12 % of employee contb.)
b) A/C NO.2 Administrative Charges (1.1 % of salary on which EPF deducted)
c) A/C No.10 FPF ( 8.33% of employer share of contribution)
d) A/c No. 21 EDLI ( .5% of salary on which EPF deductions were made)
e) A/C No.22 Admin. Charges on EDLI ( .01% of salary on which EPF deductions were made)
Thanking you,
Regards,
Ashish
From India, Pune
There is no change in the PF rate, the bifurcation is as below.
a) A/C No. 1 EPF (3.67% of employer share & 12 % of employee contb.)
b) A/C NO.2 Administrative Charges (1.1 % of salary on which EPF deducted)
c) A/C No.10 FPF ( 8.33% of employer share of contribution)
d) A/c No. 21 EDLI ( .5% of salary on which EPF deductions were made)
e) A/C No.22 Admin. Charges on EDLI ( .01% of salary on which EPF deductions were made)
Thanking you,
Regards,
Ashish
From India, Pune
THANKS ASHSIH,
But my queries is not that.
Actually I want to know the procedure of calculating PF that File i am enclosing herewith.
The PDF file that i found in epfindia.com/sites/pdf/condtibutionRate.pdf
and the excel file tha I am calculating on the basis of that rate.
From India, Bangalore
But my queries is not that.
Actually I want to know the procedure of calculating PF that File i am enclosing herewith.
The PDF file that i found in epfindia.com/sites/pdf/condtibutionRate.pdf
and the excel file tha I am calculating on the basis of that rate.
From India, Bangalore
Dear MONJITA,
Both ESI & EPF Contribution calculated on Round-Off basis.
In EPF, if the calculation results more than .25 Paise, then it should be rounded to the next Rupee.
Whereas, in ESI Calculation, if the calculation results more than .01 Paise, then it has to rounded to the next Rupee.
From India, Delhi
Both ESI & EPF Contribution calculated on Round-Off basis.
In EPF, if the calculation results more than .25 Paise, then it should be rounded to the next Rupee.
Whereas, in ESI Calculation, if the calculation results more than .01 Paise, then it has to rounded to the next Rupee.
From India, Delhi
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PF Notification for 10% Contribution Rate for 3 Months.pdf