What I have stated about pension fund contribution by the Central Govt. is right, I believe. I don't know whether the Govt. have made any amendment TODAY. The discussed share of 1.61 is not a contribution by the employer but it is a payment by the employer towards administration of funds, viz, Provident Fund and Employees Deposit Linked Insurance. Contribution should be distinguished from payments and the latter are expenses not forming part of wages. I agree that administration charges total 1.61% of PF and EDLI qualifying wages.
Please note that what I have stated is that the Govt. will contribute @ 1.16% of wages towards employees Pension Fund. For details please go through the Pension Scheme.
Regards,
Madhu.T.K
From India, Kannur
4250Please note that what I have stated is that the Govt. will contribute @ 1.16% of wages towards employees Pension Fund. For details please go through the Pension Scheme.
Regards,
Madhu.T.K
From India, Kannur
Dear All
Thank you very much for your quick and valuable suggesstion and especially to mr madhu. But while going through the whole message my one part clarification still remains unclear and would like you all to focus on it and provide me the suggesstion.
The point is as follows:-
We all know that 1.61% is the administrative charges borne by the employer for the govt. My question is that is the employee who need to bear the amount and the same calculation need to be shown in the CTC or this part should be completely waived out in the CTC part as it is borne by the company.
Daya
From India, Calcutta
Thank you very much for your quick and valuable suggesstion and especially to mr madhu. But while going through the whole message my one part clarification still remains unclear and would like you all to focus on it and provide me the suggesstion.
The point is as follows:-
We all know that 1.61% is the administrative charges borne by the employer for the govt. My question is that is the employee who need to bear the amount and the same calculation need to be shown in the CTC or this part should be completely waived out in the CTC part as it is borne by the company.
Daya
From India, Calcutta
I hope your apprehension is that whether we should include the administration charges of 1.61% to the CTC or not. In my opinion it should not be included though it is a payment made by or cost incurred by the employer for the employee. If it is to be shown as cost to company, we will have to include costs like costs of news papers placed in the rest room, drinking water, electricity bills, welfare costs and so on, because all these are incurred for the employees and to retain their labour.
Regards,
Madhu.T.K
From India, Kannur
Regards,
Madhu.T.K
From India, Kannur
Can any one tell me total structure PF? What type of formalities have to do? how to maintain? Regards. Rahul
From India, Pune
From India, Pune
Dear Seniors,
I am working for a Thailand MNC, Charoen pokphand India Pvt Limited. I
need the details of Provident Fund applicability and other
clarifications such as withdrawl of PF and pension fund.
Kindly share the data available with you.
Regards,
AVGN Vara Prasad.
From India, Kakinada
I am working for a Thailand MNC, Charoen pokphand India Pvt Limited. I
need the details of Provident Fund applicability and other
clarifications such as withdrawl of PF and pension fund.
Kindly share the data available with you.
Regards,
AVGN Vara Prasad.
From India, Kakinada
Dear Seniors,
I am working for a Thailand MNC, Charoen pokphand India Pvt Limited. I
need the details of Provident Fund applicability and other
clarifications such as withdrawl of PF and pension fund, in respect of International workers.
Kindly share the data available with you.
Regards,
AVGN Vara Prasad.
From India, Kakinada
I am working for a Thailand MNC, Charoen pokphand India Pvt Limited. I
need the details of Provident Fund applicability and other
clarifications such as withdrawl of PF and pension fund, in respect of International workers.
Kindly share the data available with you.
Regards,
AVGN Vara Prasad.
From India, Kakinada
Dear sir Please guide me the PF contribution stucture and various forms required for PF contribution ,Withdrawal ,Loan on PF. Regards Rashi Agrawal
From India, Delhi
From India, Delhi
Hi,
I did not understand whether point # 4 below has been answered.
Senior members please help me understand.
1. Is it mandatory for an organisation to contribute an amount of 12% of mentioned basic salary towards PF OR
2. Can the organisation choose to pay amount not exceeding Rs. 780/- towards PF?
In both the above cases, the basic salary of an employee is greater than 10,000/month.
Regards,
From India
I did not understand whether point # 4 below has been answered.
Senior members please help me understand.
1. Is it mandatory for an organisation to contribute an amount of 12% of mentioned basic salary towards PF OR
2. Can the organisation choose to pay amount not exceeding Rs. 780/- towards PF?
In both the above cases, the basic salary of an employee is greater than 10,000/month.
Regards,
From India
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