Dear All,
Can Employer's Contribution to PF be shown as a component of Gross Salary, in place of to be shown as Retirement Benefit Component..??
If yes, then whether it is right/legal?
If it is not legal then what all can be implications of doing so...?
Awaiting your inputs..It's a little Urgent and Important..
Br,
From India, Pune
2Can Employer's Contribution to PF be shown as a component of Gross Salary, in place of to be shown as Retirement Benefit Component..??
If yes, then whether it is right/legal?
If it is not legal then what all can be implications of doing so...?
Awaiting your inputs..It's a little Urgent and Important..
Br,
From India, Pune
Thanks for the reply & attached sheet Nisha!!
I completely agree to you. However, in recent time, I have seen few companies, practicing, showing EMPLOYER'S CONTRIBUTION towards PF as a GROSS SALARY Component.
I just want to understand from all seniors, whether it is a correct practice being followed now a days by certain organization..
As far as my knowledge is, GROSS SALARY is the gross earning of an Employee, whereas "Employer contribution towards PF" is a Mandatory statutory benefit which is a part of "Retirement Benefit component".
Awaiting more inputs/response from every one.
From India, Pune
I completely agree to you. However, in recent time, I have seen few companies, practicing, showing EMPLOYER'S CONTRIBUTION towards PF as a GROSS SALARY Component.
I just want to understand from all seniors, whether it is a correct practice being followed now a days by certain organization..
As far as my knowledge is, GROSS SALARY is the gross earning of an Employee, whereas "Employer contribution towards PF" is a Mandatory statutory benefit which is a part of "Retirement Benefit component".
Awaiting more inputs/response from every one.
From India, Pune
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Employer-PF-res trict to wages of Rs 6500.pdf