Dear Amit,
Your posts were very informative and valuable.
I have a small query, according to EDLI "14. Deposit-Linked Insurance Fund Account. – The amount received as the employer’s contribution and also the Central Government’s contribution to the Insurance Fund under sub-section 2 and 3 of section 6C shall be credited to an account called the “Deposit-Linked Insurance Fund Account”, and all expenses towards the cost of any benefits provided by or under the Scheme shall be met out of this account.
15. Investment of moneys belonging to the Insurance Fund. – (1) All moneys standing to the credit of the Insurance Fund as on 31st March, 1997 shall be kept in deposit with the Central Government in the Public Account, and the Central Government shall allow interest at a rate not less than 8-1/2 per cent per annum.
(2) The moneys credited as contributions to the Insurance Fund on and from the 1st day of April, 1997 shall be invested as per the investment pattern notified under paragraph 52 of the Employees’ Provident Funds Scheme, 1952."
Quotes that money credited..........shall be invested as per the investment pattern notified.....1952".
Could you please brief about as how can an employee get advantage of the insurance linked.
And how come an employer will link EDLI shceme with LIC or other insurance companies, what are the common procedure followed.
Regards,
Sashmita
From India, Delhi
7Your posts were very informative and valuable.
I have a small query, according to EDLI "14. Deposit-Linked Insurance Fund Account. – The amount received as the employer’s contribution and also the Central Government’s contribution to the Insurance Fund under sub-section 2 and 3 of section 6C shall be credited to an account called the “Deposit-Linked Insurance Fund Account”, and all expenses towards the cost of any benefits provided by or under the Scheme shall be met out of this account.
15. Investment of moneys belonging to the Insurance Fund. – (1) All moneys standing to the credit of the Insurance Fund as on 31st March, 1997 shall be kept in deposit with the Central Government in the Public Account, and the Central Government shall allow interest at a rate not less than 8-1/2 per cent per annum.
(2) The moneys credited as contributions to the Insurance Fund on and from the 1st day of April, 1997 shall be invested as per the investment pattern notified under paragraph 52 of the Employees’ Provident Funds Scheme, 1952."
Quotes that money credited..........shall be invested as per the investment pattern notified.....1952".
Could you please brief about as how can an employee get advantage of the insurance linked.
And how come an employer will link EDLI shceme with LIC or other insurance companies, what are the common procedure followed.
Regards,
Sashmita
From India, Delhi
hi!
i need ur help to understand the entire process of getting a company registered with PF.
Background:-
We are a new venture cuming up in retail, we are 100% subisdiary company of a 50 yr old company.
our employee strength is 14 today which will soon grew to 20 in a month or so....
Now we are looking to get a P.F code, our register office is at calutta, Now I need to ask u where i should apply for this PF code and what is the process for this.
regards,
EAFIL
From India, Delhi
i need ur help to understand the entire process of getting a company registered with PF.
Background:-
We are a new venture cuming up in retail, we are 100% subisdiary company of a 50 yr old company.
our employee strength is 14 today which will soon grew to 20 in a month or so....
Now we are looking to get a P.F code, our register office is at calutta, Now I need to ask u where i should apply for this PF code and what is the process for this.
regards,
EAFIL
From India, Delhi
Hi
Maximum contribution amount Rs - 6500 ( basic + D.A) As per statutory /salary per month
Salary calculation depends up on wages for worker category =26 days or Staff = 30 days
with regads
devendran.
Maximum contribution amount Rs - 6500 ( basic + D.A) As per statutory /salary per month
Salary calculation depends up on wages for worker category =26 days or Staff = 30 days
with regads
devendran.
hi friends, can anyone help me how to calculate professional tax and also i want to know how to breakup the salary. Meenu
From India, Pune
From India, Pune
Dear eafil,
You have to apply for PF code in calcutta region because your HO is there. Second thing, still your present company is subsidary of parent company you can take sub code if you needed.
Although, be cautious that some time PF personnel say that your company is eligable from the date of establishment because your parent company may have more than 20 employee before your subsidary company established.
Regards
From India, Nagpur
You have to apply for PF code in calcutta region because your HO is there. Second thing, still your present company is subsidary of parent company you can take sub code if you needed.
Although, be cautious that some time PF personnel say that your company is eligable from the date of establishment because your parent company may have more than 20 employee before your subsidary company established.
Regards
From India, Nagpur
Hi All,
Employer also can contribute voluntarily on actual (Basic+DA) even if it is more than 6500/-.
Today most of the companies are using Cost to the Company based salary structures, where they they include employer's contribution to PF (on actual basic+DA) in the CTC of their employees.
Regards,
BS
From United States, Santa Clara
Employer also can contribute voluntarily on actual (Basic+DA) even if it is more than 6500/-.
Today most of the companies are using Cost to the Company based salary structures, where they they include employer's contribution to PF (on actual basic+DA) in the CTC of their employees.
Regards,
BS
From United States, Santa Clara
Dear Friend How is the Family pension amount derived, is there any formula for that ? Regards S. Achuthananda
From India, Pune
From India, Pune
Hi
I have a doubt in employee share. In chellan across the employer share it has 2 columns. Account no 10 and Account no 1. How to fill it . Should i divide the 12% and how? My knowledge say a/c no 10 shows pension fund and 1 shows provident fund. i heard as employee share of 12% goes directly to provident fund. Please guide
From India, Kochi
I have a doubt in employee share. In chellan across the employer share it has 2 columns. Account no 10 and Account no 1. How to fill it . Should i divide the 12% and how? My knowledge say a/c no 10 shows pension fund and 1 shows provident fund. i heard as employee share of 12% goes directly to provident fund. Please guide
From India, Kochi
Hi to Maya Mathew,
Very nice question & doubt.
You have to left blank A/c. No. 10 column in employee share. I think it is mistake done by the EPFO when making challan format.
Any further query please post.
Regards
Prashant Patil
From India, Nagpur
Very nice question & doubt.
You have to left blank A/c. No. 10 column in employee share. I think it is mistake done by the EPFO when making challan format.
Any further query please post.
Regards
Prashant Patil
From India, Nagpur
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