Kindly let me know which amount of PF shall be contributed if the total pay is Rs 60,600 per month and basic+DA is Rs 21,252. What shall be the employee's share, EPS share, and ES?
What is the benefit under the EDLI Scheme of EPFO?
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2What is the benefit under the EDLI Scheme of EPFO?
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Dear Anamika, PF Contribution will be deducted on Basic+DA by your Employer based on Earnings @12%.Please download EPF Pass Book to the details of Remittance to EPF
From India, New Delhi
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From India, New Delhi
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Employee share: 2550
Employer share: 2763
Pension: 1250
Employer PF: 1300
EDLI: 106.5
Admin charges: 106.5
EDLI is the Employee Deposit Linked Insurance scheme where the employee is insured for an amount ranging between 250,000 to 600,000. This amount depends on a formula, i.e., the employee's salary not exceeding 15,000 multiplied by 30 times plus 40% of the amount in the PF, not exceeding 150,000, totaling 600,000.
From India, Pune
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Employer share: 2763
Pension: 1250
Employer PF: 1300
EDLI: 106.5
Admin charges: 106.5
EDLI is the Employee Deposit Linked Insurance scheme where the employee is insured for an amount ranging between 250,000 to 600,000. This amount depends on a formula, i.e., the employee's salary not exceeding 15,000 multiplied by 30 times plus 40% of the amount in the PF, not exceeding 150,000, totaling 600,000.
From India, Pune
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Can an employee receive IDLI benefits only after death or after retirement? Please suggest if there is any upper cap of Rs. 1800 for PF contribution, as 12% of basic + DA but not more than Rs. 1800.
Kindly suggest the calculation.
Thanks
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Kindly suggest the calculation.
Thanks
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EDLI benefits are for death cases.
The calculation provided in my post is for the amount 21252/-. However, if your employer had capped the contribution to 15000/-, then it will be 1800/- only, irrespective of your basic and DA.
From India, Pune
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The calculation provided in my post is for the amount 21252/-. However, if your employer had capped the contribution to 15000/-, then it will be 1800/- only, irrespective of your basic and DA.
From India, Pune
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Thanks Aniket ji, Please find attached annexure regarding EPFO in which under note , under EPF ,point no-1 ,please clearify .
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Hi
The employer is at liberty to restrict the PF contribution as per the current wage ceiling of Rs.15,000/- even if he pay more than Rs.15,000 (Basic +DA or only basic) In your case the Basic + DA is Rs.21,252/- It is up to you decide whether you want to contribute on the entire amount of Rs.21,252/-
In case the employee wants to contribute more than the statutory wage ceiling he can do so as Voluntary Contribution in which the employer has no liability to contribute (employer share) on the amount of voluntary contribution.
Our friend Ankit have given the calculation based on Rs.21,252/-
The EDLI is payable in the event of the death of the employee to his nominee/legal heir
Regards
P.S.Lakshmanan
S. G. Management Services
(PAN INDIA Consultant – Labour Law Compliance,
PF, ESI, P Tax, Benefit Management &
POSH COMPLIANCE) - KOLKATA
From India, Kolkata
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The employer is at liberty to restrict the PF contribution as per the current wage ceiling of Rs.15,000/- even if he pay more than Rs.15,000 (Basic +DA or only basic) In your case the Basic + DA is Rs.21,252/- It is up to you decide whether you want to contribute on the entire amount of Rs.21,252/-
In case the employee wants to contribute more than the statutory wage ceiling he can do so as Voluntary Contribution in which the employer has no liability to contribute (employer share) on the amount of voluntary contribution.
Our friend Ankit have given the calculation based on Rs.21,252/-
The EDLI is payable in the event of the death of the employee to his nominee/legal heir
Regards
P.S.Lakshmanan
S. G. Management Services
(PAN INDIA Consultant – Labour Law Compliance,
PF, ESI, P Tax, Benefit Management &
POSH COMPLIANCE) - KOLKATA
From India, Kolkata
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