as per my knowledge now there is a little amendment in EPF Act. i.e epf limit for deduction is 6500/- in which all the allowances has also been calculated.
From India, Patiala
1From India, Patiala
Dear Sh Vermaji,
You are getting confused with the PF contributuion on the deductible part of the wages/salary of an employee.Sh Shailesh Parikh has rightly mentioned that for purpose of EPF contribution the “Pay” includes basic wages with [dearness allowance, retaining allowance (if any)], and cash value of food concessions admissible thereon.I have understood your query which contains two parts as how to treat his salary on a particular day when somebody is put on overtime.The PF contribution will be payable on one's ordinary rate of wages on that particular day but not on his overtime wages earned by him.We can't agitate on the stipulations of overtime given in various enactments unless the same are amended through policy frame work of Govt of India.
BS Kalsi
Member since Aug 2011
attribution https://www.citehr.com/458149-maximu...#ixzz2RMHpPqrv
From India, Mumbai
You are getting confused with the PF contributuion on the deductible part of the wages/salary of an employee.Sh Shailesh Parikh has rightly mentioned that for purpose of EPF contribution the “Pay” includes basic wages with [dearness allowance, retaining allowance (if any)], and cash value of food concessions admissible thereon.I have understood your query which contains two parts as how to treat his salary on a particular day when somebody is put on overtime.The PF contribution will be payable on one's ordinary rate of wages on that particular day but not on his overtime wages earned by him.We can't agitate on the stipulations of overtime given in various enactments unless the same are amended through policy frame work of Govt of India.
BS Kalsi
Member since Aug 2011
attribution https://www.citehr.com/458149-maximu...#ixzz2RMHpPqrv
From India, Mumbai
It is only applicable wherever total salary including various allowances are either 6500/- or even more but Basic + DA salary shown below 6500/-. For example basic+ da = 4000 + allowances 2500/-. In this case PF deduction making on 4000/-, under this circumstances
what you say is applicable. There are to court judgements, however time being it is not
in enforcement. It is likely to be announce by EPF department, such news was published few days back in News papers.
Regards
Pramod Thakar
From India, Pune
what you say is applicable. There are to court judgements, however time being it is not
in enforcement. It is likely to be announce by EPF department, such news was published few days back in News papers.
Regards
Pramod Thakar
From India, Pune
Dear All Members,
I am enclosing herewith a newspaper clipping from Mint dated April 19, 2.013 for the information of the membrers.
The Labour & Employment Ministry, Govt. of India has constitued a Committee which has submitted its report favouring clubbing of all components except HRA, overtime, bonuses and commission to be consider as part of the salary under PF Act. This move will result in employers contributing more to EPF accounts of the employees.The Ministry is also contemplating to facilitate on line transfer and withdrawal of PF accounts of the emolyees in near future.
BS Kalsi
Member since Aug 2011
From India, Mumbai
I am enclosing herewith a newspaper clipping from Mint dated April 19, 2.013 for the information of the membrers.
The Labour & Employment Ministry, Govt. of India has constitued a Committee which has submitted its report favouring clubbing of all components except HRA, overtime, bonuses and commission to be consider as part of the salary under PF Act. This move will result in employers contributing more to EPF accounts of the employees.The Ministry is also contemplating to facilitate on line transfer and withdrawal of PF accounts of the emolyees in near future.
BS Kalsi
Member since Aug 2011
From India, Mumbai
Mr. Verma
PF is calulated on BASIC+DA+CASH VALUE FOR FOOD and according to factory act 1948 the total working hours in a week including oertime hours should not exceed sixty and the total overtime hours in a quarter should not exceed 50.
From India
PF is calulated on BASIC+DA+CASH VALUE FOR FOOD and according to factory act 1948 the total working hours in a week including oertime hours should not exceed sixty and the total overtime hours in a quarter should not exceed 50.
From India
Dear ramit,
Unlike Factories Act, the BOCW Act do not provide any limit of overtime work laid down therein.However, Section 29 of the Act has prescribed the wages for overtime work. It stipulates that where any building worker is required to work on any day in excess of the number of hours constituting a normal working day,he shall be entitled to wages at the rate of twice his ordinary rate of wages.The Delhi Rules provides that no building worker employed in building or other construction work shall be required to work for more than nine hours a day or forty eight hours a week.
BS Kalsi
Member since Aug 2011
From India, Mumbai
Unlike Factories Act, the BOCW Act do not provide any limit of overtime work laid down therein.However, Section 29 of the Act has prescribed the wages for overtime work. It stipulates that where any building worker is required to work on any day in excess of the number of hours constituting a normal working day,he shall be entitled to wages at the rate of twice his ordinary rate of wages.The Delhi Rules provides that no building worker employed in building or other construction work shall be required to work for more than nine hours a day or forty eight hours a week.
BS Kalsi
Member since Aug 2011
From India, Mumbai
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EPS - Wage Limit increase_01.09. 2014.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx