Seniors,
We are Micro scale industry .we are maintaining PF Accounts for all our emloyees who are getting salaries 6500 - 15000/- .This year we put some increments.Here i need some clarification about PF.
1) Ceiling limit of salary for PF
2) what are all the allowances will be taken for PF with percentage.
Please share your maximum knowledge regarding this.
From India, Tiruchchirappalli
4We are Micro scale industry .we are maintaining PF Accounts for all our emloyees who are getting salaries 6500 - 15000/- .This year we put some increments.Here i need some clarification about PF.
1) Ceiling limit of salary for PF
2) what are all the allowances will be taken for PF with percentage.
Please share your maximum knowledge regarding this.
From India, Tiruchchirappalli
Hai.... There is no limit for PF deduction. PF should be deduct on (Basic + DA). Employer responsibility is upto Rs.6,500/- only it applicable for EPS. Employee share total amount will be credited to PF account. Employer share will be divided as follows:
Salary 6,500-00 10000 (more than 6,500/-)
P.F. (Employer)(3.67%) 238.55 658.00 (after 6500/- the total amount of ER share added to PF)
EPS (Employer)(8.33%) 542.00 542.00 (Limited to Rs.542/- i.e. 8.33% on Rs. 6,500/-)
P.F. (Employ) (12%) 780.00 1200.00 (employ full share will be added to PF)
and 1.10% Admin charges, EDLI @ 0.50% and 0.01% EDLI Admin. Charges (These are also payable by employer only)..
I hope it will be helpful to you..... RAJU, Vizag (AP)... 9705788628
From India, Visakhapatnam
Salary 6,500-00 10000 (more than 6,500/-)
P.F. (Employer)(3.67%) 238.55 658.00 (after 6500/- the total amount of ER share added to PF)
EPS (Employer)(8.33%) 542.00 542.00 (Limited to Rs.542/- i.e. 8.33% on Rs. 6,500/-)
P.F. (Employ) (12%) 780.00 1200.00 (employ full share will be added to PF)
and 1.10% Admin charges, EDLI @ 0.50% and 0.01% EDLI Admin. Charges (These are also payable by employer only)..
I hope it will be helpful to you..... RAJU, Vizag (AP)... 9705788628
From India, Visakhapatnam
ya..ok.sir..i could get some idea ..but what is the percentage ratio for basic and da from gross salary to pay PF.bcoz someone is taking 65-70% whereas otherone telling only 40% is applicable... so i am messed up with this too...
Plz.share your information here..
Regards
Mohan.D
TN
From India, Tiruchchirappalli
Plz.share your information here..
Regards
Mohan.D
TN
From India, Tiruchchirappalli
Hai.... You have to make basic and VDA or DA according to the Minimum wages in your state. You must have to pay PF on Minimum wages as per Labour act. After that you can dived it to other allowances. for Example... as per Labour Act.. Basic.. 5000/- VDA or DA or CLA Rs. 1760/- total = 6,760/-. If you are paying more than that, in excess of the minimum wages you can show it as HRA or any other any other allowance. Hope it can be helpful to you..
From India, Visakhapatnam
From India, Visakhapatnam
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf