can u answer below questions-
• Handling overall cross office mobility operations (incoming and outgoing transfers) – including
Secondment arrangements
Preparation of VISA documentation
FRRO registration
Compliances like Bank a/c opening, PAN applications,
Finalisation of Co-leased housing arrangements
Coordinating with consultants for Tax calculations
Tax equalization
Bank a/c closure and remittance to home country bank a/c
Intercompany accounting
Assisting in Audit of Transfer payroll related accounts
Coordination with consultant for filing Tax returns
Any other aspects / compliances
• Handling of all monthly, quarterly and annual statutory compliances related to Mobility/transfer payroll
• Employee interactions including onboarding/off boarding activities like Inductions, exit formalities
• Handling Company leased accommodation arrangements including finalization of agreements
• Handling Mobility Accounting including Tax equalisations
• Providing ad hoc information, analysis and MIS as required
From India
• Handling overall cross office mobility operations (incoming and outgoing transfers) – including
Secondment arrangements
Preparation of VISA documentation
FRRO registration
Compliances like Bank a/c opening, PAN applications,
Finalisation of Co-leased housing arrangements
Coordinating with consultants for Tax calculations
Tax equalization
Bank a/c closure and remittance to home country bank a/c
Intercompany accounting
Assisting in Audit of Transfer payroll related accounts
Coordination with consultant for filing Tax returns
Any other aspects / compliances
• Handling of all monthly, quarterly and annual statutory compliances related to Mobility/transfer payroll
• Employee interactions including onboarding/off boarding activities like Inductions, exit formalities
• Handling Company leased accommodation arrangements including finalization of agreements
• Handling Mobility Accounting including Tax equalisations
• Providing ad hoc information, analysis and MIS as required
From India
pls help me materials for Core hr and payrolls. and tell me what are the topic cover in HR.
From India
From India
Hi all,
I am from Gujarat. I have a doubt that if employer starts paying PF at 6500/- than employer need to pay for all employees at 6500/- , even if some employees basic is less than 6500/-?
And if we were paying on basic and now want to pay at 6500/-, than is their any procedure or formalities to be fulfilled?
From India, Vadodara
I am from Gujarat. I have a doubt that if employer starts paying PF at 6500/- than employer need to pay for all employees at 6500/- , even if some employees basic is less than 6500/-?
And if we were paying on basic and now want to pay at 6500/-, than is their any procedure or formalities to be fulfilled?
From India, Vadodara
Hi
If the employee basic is above 6500/- then the same shall be restricted to 6500/- If the basic is lesser than 6500/- then contribitions from both is applicable only on hte existing basic
For example If any one basic is 7500/- then PF contributions shall be restricted to 6500/-
If basic is 5000/- the PF is contributed only on 5000/-
From India, Bangalore
604If the employee basic is above 6500/- then the same shall be restricted to 6500/- If the basic is lesser than 6500/- then contribitions from both is applicable only on hte existing basic
For example If any one basic is 7500/- then PF contributions shall be restricted to 6500/-
If basic is 5000/- the PF is contributed only on 5000/-
From India, Bangalore
Thank you Jeevarathnam. We currently are paying 8.33% at 6500 but 3.67% at basic salary. So now can we restrict ourself for paying PF on 6500/- for 3.67%?
From India, Vadodara
From India, Vadodara
Actual calculation is 8.33 & 3.67 only rite as per PF rules. Then what is the doubt u have?
From India, Bangalore
From India, Bangalore
Dear All,
The thread has more than 9000 viewers and as many as 48 replies.
I read all the replies and got confused myself. I will say, rather I have forgotten every thing on PF which I got during past 30+ years of exposure, including its spelling. NOT A JOKE!
I have therefore decided to attend a workshop by NATRSS ( National Academy for Training and Research in Social Security, New Delhi). This institute under EPFO, Govt of India conduct 2 days regular workshops on PF in New Delhi. This workshop will refresh my mind which is destructed now.
Those who are interested to join me, can approach the institute directly.
(The correct answer to the query raised in this thread, one can find it in one of the postings by me in past 1 to 2 months time.I do not wish to give it again, because I am sure, members will continue with their discussion the way they want. I am sorry to say this.)
From India, Mumbai
The thread has more than 9000 viewers and as many as 48 replies.
I read all the replies and got confused myself. I will say, rather I have forgotten every thing on PF which I got during past 30+ years of exposure, including its spelling. NOT A JOKE!
I have therefore decided to attend a workshop by NATRSS ( National Academy for Training and Research in Social Security, New Delhi). This institute under EPFO, Govt of India conduct 2 days regular workshops on PF in New Delhi. This workshop will refresh my mind which is destructed now.
Those who are interested to join me, can approach the institute directly.
(The correct answer to the query raised in this thread, one can find it in one of the postings by me in past 1 to 2 months time.I do not wish to give it again, because I am sure, members will continue with their discussion the way they want. I am sorry to say this.)
From India, Mumbai
Dear All,
I regret for my above post.
In fact I use this platform for sharing the knowledge with you all. While sharing it, I also get lot of things. Up till now I have 700+ postings here and there are 700+ appreciations also by you members.
I realised that it is not appropriate on my part to show unhappiness with the discussions by you which I feel is not in proper direction and restraint my self from giving correct answer.
Correct answer to the query in this thread is as under:
Those who are interested to enhance their knowledge and are from Mumbai, I would like to give a peace of information to them as under:
Bharatratna Dr. Babasaheb Ambedkar Institute of Management and Legal Research, Mumbai, in academic association with the National Institute of Law offers DLL (Hons) to senior and junior management executives / supervisors from different functional areas in HRM and to Labour Law Consultants and their staff.
This diploma is designed value based and practice orientated with practical training by expert academicians and management / labour law consultants. Duration of 3 months.
I am one of the faculties among others. This activity I do only for sharing and enhancing the knowledge only.
Those who are interested can contact the institute directly at :
Bharatratna Dr. Babasaheb Ambedkar Institute of Management and Legal Research,
Ambedkar College of Law,
Tilak Road, Opp. BEST Depot,
Wadala, Mumbai 400031.
Tel : 24173520
From India, Mumbai
I regret for my above post.
In fact I use this platform for sharing the knowledge with you all. While sharing it, I also get lot of things. Up till now I have 700+ postings here and there are 700+ appreciations also by you members.
I realised that it is not appropriate on my part to show unhappiness with the discussions by you which I feel is not in proper direction and restraint my self from giving correct answer.
Correct answer to the query in this thread is as under:
Those who are interested to enhance their knowledge and are from Mumbai, I would like to give a peace of information to them as under:
Bharatratna Dr. Babasaheb Ambedkar Institute of Management and Legal Research, Mumbai, in academic association with the National Institute of Law offers DLL (Hons) to senior and junior management executives / supervisors from different functional areas in HRM and to Labour Law Consultants and their staff.
This diploma is designed value based and practice orientated with practical training by expert academicians and management / labour law consultants. Duration of 3 months.
I am one of the faculties among others. This activity I do only for sharing and enhancing the knowledge only.
Those who are interested can contact the institute directly at :
Bharatratna Dr. Babasaheb Ambedkar Institute of Management and Legal Research,
Ambedkar College of Law,
Tilak Road, Opp. BEST Depot,
Wadala, Mumbai 400031.
Tel : 24173520
From India, Mumbai
Hi,
I don't know why many of the members have confused with PF statutory compliance. Nothing wrong with Mr.Korgaonkar for his outburst on the wrong practice followed and suggested.
Based on the numerous postings, I believe the main confusion starts from restriction upto 6500/-. If so I can raise the following query.
1) If you can restrict total PF employer /employee contribution to Rs.780/- for all employees then you can maintain the basic as 6500/- flat.
Why should you fix a percentage component on Bas, HRA, Convy etc..? But many companies have started following this 780/- model just to minimise their contribution. Nowhere on EPFO site it has officially stated that PF contribution (3.67%) can be employers' choice on 6500/-. Many PF commissioners have not objected to this model. It had restricted only for Employee pension contribution (8.33%) and not on the total employer contribution of 12% on actual basic.
2) Another untold rule is that EPFO is insisting that on gross salary the basic component has to be 70%. I once asked a PF officer that if this is going to be the rule, what way it is going to affect the employer when he is following 780/- only ..? He had no answer.
3) If employer PF benefit is only Rs.9600 per annum maximum, we can open an RD account in a nationalised bank, why a PF account?
4) If basic for all is not fixed flat @ 6500/-, will not the employer spend high amount on bonus, gratuity, leave encashment, OT etc? These are directly linked to basic, why does employer incur huge expense on these?
5) If an employee serves for 30 years, at the max he can get 3 lakhs with interest. Is this an appreciable PF benefit derived from the employer irrespective of position held? Does this not sound fishy?
In my view if PF is not diligently followed as per Social security law, it can go to scrap. The employee can atleast remain a consultant without any headache from benefits.
Regards
Chandru
From India, Madras
I don't know why many of the members have confused with PF statutory compliance. Nothing wrong with Mr.Korgaonkar for his outburst on the wrong practice followed and suggested.
Based on the numerous postings, I believe the main confusion starts from restriction upto 6500/-. If so I can raise the following query.
1) If you can restrict total PF employer /employee contribution to Rs.780/- for all employees then you can maintain the basic as 6500/- flat.
Why should you fix a percentage component on Bas, HRA, Convy etc..? But many companies have started following this 780/- model just to minimise their contribution. Nowhere on EPFO site it has officially stated that PF contribution (3.67%) can be employers' choice on 6500/-. Many PF commissioners have not objected to this model. It had restricted only for Employee pension contribution (8.33%) and not on the total employer contribution of 12% on actual basic.
2) Another untold rule is that EPFO is insisting that on gross salary the basic component has to be 70%. I once asked a PF officer that if this is going to be the rule, what way it is going to affect the employer when he is following 780/- only ..? He had no answer.
3) If employer PF benefit is only Rs.9600 per annum maximum, we can open an RD account in a nationalised bank, why a PF account?
4) If basic for all is not fixed flat @ 6500/-, will not the employer spend high amount on bonus, gratuity, leave encashment, OT etc? These are directly linked to basic, why does employer incur huge expense on these?
5) If an employee serves for 30 years, at the max he can get 3 lakhs with interest. Is this an appreciable PF benefit derived from the employer irrespective of position held? Does this not sound fishy?
In my view if PF is not diligently followed as per Social security law, it can go to scrap. The employee can atleast remain a consultant without any headache from benefits.
Regards
Chandru
From India, Madras
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Employer-PF-res trict to wages of Rs 6500.pdf