Hellow Guys, I am newly appointed HR in construction Company, & also fresher, I am confuse about Provident Fund, So, can any one help me on PF..???
From India, Ahmadabad
1From India, Ahmadabad
Hi ankit, what confusion u have regarding pf?
Any employee with salary less than 6500 is compulsarily admitted to pf scheme, and employee with salary more than 6500, can also join pf scheme (but not compulsary)
rate of contribution for employer: 12% of basic +DA
rate of contribution employee: 12% ( he can contribute more if he wish max 85%)
Employer's Contribution DETAILS:
- Pension Fund : 8.33%
- Provident Fund : 3.67%
- Employee Deposit Linked Insurance : 0.5%
- Administrative Charges for PF Scheme: 1.10%
- Administrative Charges for EDLI Scheme: 0.01%
For further details, u can browse previous post, u will get ample of material.
From India, Hyderabad
Any employee with salary less than 6500 is compulsarily admitted to pf scheme, and employee with salary more than 6500, can also join pf scheme (but not compulsary)
rate of contribution for employer: 12% of basic +DA
rate of contribution employee: 12% ( he can contribute more if he wish max 85%)
Employer's Contribution DETAILS:
- Pension Fund : 8.33%
- Provident Fund : 3.67%
- Employee Deposit Linked Insurance : 0.5%
- Administrative Charges for PF Scheme: 1.10%
- Administrative Charges for EDLI Scheme: 0.01%
For further details, u can browse previous post, u will get ample of material.
From India, Hyderabad
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Provident fund.zip
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PROVIDENT FUND.doc