Hi,
In the epf challan, by row-wise it shows
1. employer's share of contribution
2. employee's share of contribution
3. administration charges
etc.
In that, the employers share total shows 3.67% + 8.33% + 0.5%.
which means employer contribution also includes 0.5%.
and admin charges is only 1.1%+0.01%
Is is correct. Please guide me if my statement is wrong.
Regards,
Usha
From India, Madras
5In the epf challan, by row-wise it shows
1. employer's share of contribution
2. employee's share of contribution
3. administration charges
etc.
In that, the employers share total shows 3.67% + 8.33% + 0.5%.
which means employer contribution also includes 0.5%.
and admin charges is only 1.1%+0.01%
Is is correct. Please guide me if my statement is wrong.
Regards,
Usha
From India, Madras
Dear Usha,
According to the EPF act,
employee contribution is 12%
Employer:
EPF-3.67%
FPF-8.33%
apart from above, company has to pay admn charges along with its contribution.that comes around 1.61% total.
1.10-Admn charge
0.50% EDLi charge
0.001 % admn charge on EDLI.
I hope this may helpful to u.
thanks
Hari
From India, Hyderabad
According to the EPF act,
employee contribution is 12%
Employer:
EPF-3.67%
FPF-8.33%
apart from above, company has to pay admn charges along with its contribution.that comes around 1.61% total.
1.10-Admn charge
0.50% EDLi charge
0.001 % admn charge on EDLI.
I hope this may helpful to u.
thanks
Hari
From India, Hyderabad
Hellow Ms. Usha You r right the calculation and percentages u give in thread are absolutely oke Employee Share 12% Employer share 13.61% (3.67%+8.33%+0.5%+1.1%+0.01%) regards, Ritu
From India, Delhi
From India, Delhi
Hellow Ms. Usha You r right the calculation and percentages u give in thread are absolutely oke Employee Share 12% Employer share 13.61% (3.67%+8.33%+0.5%+1.1%+0.01%) regards, Ritu
From India, Delhi
From India, Delhi
Dear all,
My basics on salary part in Hr is really not very great as i am only into employee engagement profile.But i want to learn the salary break ups /HR/convencence / Pf/Esi/
who are eligible/who are not for both pf-Esi and then why in some company for both employee and employers contribution deducts from the employer salary.
Kindly help me to understand so that i can take up new challenges.
Regards
Soma
From India, Calcutta
My basics on salary part in Hr is really not very great as i am only into employee engagement profile.But i want to learn the salary break ups /HR/convencence / Pf/Esi/
who are eligible/who are not for both pf-Esi and then why in some company for both employee and employers contribution deducts from the employer salary.
Kindly help me to understand so that i can take up new challenges.
Regards
Soma
From India, Calcutta
Before 16/11/1995, there were 2 terms EPF and FPF. After that FPF change in to EPS.
EPF- Employees Provident Fund (PF). No difference in these 2 terms.
FPF- Family Pension Fund. In this scheme pension is only allow when an employee dies in service. Otherwise he got a lumpsump amount after getting retire.
EPS- Employee Pension Scheme. In this employee gets lumpsump amount if his service is less than 10 years and if more, than he will get pension after attaining the age of 58. Of course hge can opt for pension at 50 also.
Source(s):
EDLI Means Employees Deposit Link Insurance
From India, Delhi
EPF- Employees Provident Fund (PF). No difference in these 2 terms.
FPF- Family Pension Fund. In this scheme pension is only allow when an employee dies in service. Otherwise he got a lumpsump amount after getting retire.
EPS- Employee Pension Scheme. In this employee gets lumpsump amount if his service is less than 10 years and if more, than he will get pension after attaining the age of 58. Of course hge can opt for pension at 50 also.
Source(s):
EDLI Means Employees Deposit Link Insurance
From India, Delhi
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