Hello Respected Members :)
I have query regarding the PF.
My Basic salary is 72000
My company deducts 720/ rs monthly from salary and they also deduct same amount 720 for my PF.
Well i consulted with my friends, they told me that company pays the other amount in employee PF. But here in mu company they deduct the same amount from my salary.
As i am new to this environment . Please help why they do ...
Do i complain about this ...
Please reply , i will be very thank full for your given time.
From India, Gurgaon
I have query regarding the PF.
My Basic salary is 72000
My company deducts 720/ rs monthly from salary and they also deduct same amount 720 for my PF.
Well i consulted with my friends, they told me that company pays the other amount in employee PF. But here in mu company they deduct the same amount from my salary.
As i am new to this environment . Please help why they do ...
Do i complain about this ...
Please reply , i will be very thank full for your given time.
From India, Gurgaon
Hi G,
Yeah they say that 12% is employee contribution and 13.6% of basic is employer contribution but they deduct it from your salary cos they say its part of CTC. It is the norm in the industry and everywhere its the same even CMM level 5 cos do the same.
Thanks,
Anupama V
From India, Mumbai
Yeah they say that 12% is employee contribution and 13.6% of basic is employer contribution but they deduct it from your salary cos they say its part of CTC. It is the norm in the industry and everywhere its the same even CMM level 5 cos do the same.
Thanks,
Anupama V
From India, Mumbai
Dear G,
In your post, you have not mentioned that Rs. 72,000 basic is for annual or monthly.?
From your question, I came to a conclusion, that your Company has given the said amount as CTC (Cost to the Company) per annum is Rs. 72,000 as Salary or Rs. 6000 per month. Its includes your side PF and Employers PF portion also. That's why they taken your Salary as Basic Salary and deducted Rs. 720 on your part of PF (ie., 12% of the abovesaid Rs. 6000 p.m.) and Rs. 720 as employers part of PF.
It's new system followed by the HR people.
ramravind
From India, Selam
3In your post, you have not mentioned that Rs. 72,000 basic is for annual or monthly.?
From your question, I came to a conclusion, that your Company has given the said amount as CTC (Cost to the Company) per annum is Rs. 72,000 as Salary or Rs. 6000 per month. Its includes your side PF and Employers PF portion also. That's why they taken your Salary as Basic Salary and deducted Rs. 720 on your part of PF (ie., 12% of the abovesaid Rs. 6000 p.m.) and Rs. 720 as employers part of PF.
It's new system followed by the HR people.
ramravind
From India, Selam
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls