Dear Seniors , can u please give me the eligibility for PF deductions?,i mean who is having annual income less than 90,000/- per annum? only will get PF? Please do provide me the details.
From India, Visakhapatnam
From India, Visakhapatnam
Dear srija ramayanam,
If any company registered with PF organization it must deduct 12% Employee share on employee basic salary there is no minimum and maximum limit for PF deduction ( on basic).there is two method to calculate PF on employee salary,
1.Taking basic salary as 6500/- for all employees whose basic is more than 6500/- ,If employee basic is less than 6500 in this case take the actual basic.
Example : If the basic of an employee basic is 4500 then calculation of PF is 4500*12% ( basic is less than 6500/-)
If the basic of an employee basic is 10,500 then calculation of PF is 6500*12% ( basic is more than 6500/-)
2. Take actual basic and calculate 12% on that (what ever the basic less than or more than 6500 take actual base just like the above said 1st example)
Apart from PF there is one more option for employees that is Volentory PF means in addition to regular PF deduction the as per employee wish the employee deduct VPF, for this minimum % is 12% and maximum is 80% on basic. Mostly employee opt this for getting Tax relief but it is very beneficial to employee
From India, Hyderabad
6If any company registered with PF organization it must deduct 12% Employee share on employee basic salary there is no minimum and maximum limit for PF deduction ( on basic).there is two method to calculate PF on employee salary,
1.Taking basic salary as 6500/- for all employees whose basic is more than 6500/- ,If employee basic is less than 6500 in this case take the actual basic.
Example : If the basic of an employee basic is 4500 then calculation of PF is 4500*12% ( basic is less than 6500/-)
If the basic of an employee basic is 10,500 then calculation of PF is 6500*12% ( basic is more than 6500/-)
2. Take actual basic and calculate 12% on that (what ever the basic less than or more than 6500 take actual base just like the above said 1st example)
Apart from PF there is one more option for employees that is Volentory PF means in addition to regular PF deduction the as per employee wish the employee deduct VPF, for this minimum % is 12% and maximum is 80% on basic. Mostly employee opt this for getting Tax relief but it is very beneficial to employee
From India, Hyderabad
There to no limit to calculate PF what ever the employee get basic on that PF will calculate what ever it is less than 6500 or more than 6500 we should calculate PF on that
From India, Hyderabad
From India, Hyderabad
Hi seniors,
I am rubanviswanathan from chennai. I am working as ADMIN EXE.in newly started manufacturing Industries in SEZ. My task is applying certificate from concern GOVT.departments . I am newly one for this job. How to do that ?? pls help to me. My another task is make a cover letter to concern departments.HOW?
From India, Erode
I am rubanviswanathan from chennai. I am working as ADMIN EXE.in newly started manufacturing Industries in SEZ. My task is applying certificate from concern GOVT.departments . I am newly one for this job. How to do that ?? pls help to me. My another task is make a cover letter to concern departments.HOW?
From India, Erode
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls