Dear Seniors,
I have a query regarding pay slip.
In my company, we are deducting EPF employee and employer share form employees only (i.e we are deducting 2 shares from employees with their acceptance).
As EPF consultant suggested we have to show employer and employee share separately.If we show like that we need to add 12% in their salary,
I am confused how to prepare payslip for this.
please suggest me the best format.
Thanks & Regards.
From India, Visakhapatnam
6I have a query regarding pay slip.
In my company, we are deducting EPF employee and employer share form employees only (i.e we are deducting 2 shares from employees with their acceptance).
As EPF consultant suggested we have to show employer and employee share separately.If we show like that we need to add 12% in their salary,
I am confused how to prepare payslip for this.
please suggest me the best format.
Thanks & Regards.
From India, Visakhapatnam
Here you have to deduct the Employer PF contribution from the CTC part and the said amount has to be treated as Gross Salary which will be easy for you to come out with Salary Slip.
From India, Ahmadabad
From India, Ahmadabad
Mrs Swathi Vennila
Your query is some what is not digested by me. How you can deduct the employers share also from the emlployee which is not proper and against the scheme. The statutory contribution from the employers should be separate which attract other payments also while remitting the money to EPFO This liability belongs to employer and by employee. . Whether your employees are covered under Employees Provident Fund Scheme, 1952 or Public Provident Fund. If they are covered EPF then it is wrong and if they are requesting to deduct under PPF then it is O.K. Please note that EPF is being handled by the EPFO and PPF is dealt by nationalized banks.
You advise your consultant to study the scheme properly before he implement it.
Adoni Suguresh
Sr.Executive (Pers, Admin & Ind.Rels) Rtd
Labour Laws Consultant
From India, Bidar
Your query is some what is not digested by me. How you can deduct the employers share also from the emlployee which is not proper and against the scheme. The statutory contribution from the employers should be separate which attract other payments also while remitting the money to EPFO This liability belongs to employer and by employee. . Whether your employees are covered under Employees Provident Fund Scheme, 1952 or Public Provident Fund. If they are covered EPF then it is wrong and if they are requesting to deduct under PPF then it is O.K. Please note that EPF is being handled by the EPFO and PPF is dealt by nationalized banks.
You advise your consultant to study the scheme properly before he implement it.
Adoni Suguresh
Sr.Executive (Pers, Admin & Ind.Rels) Rtd
Labour Laws Consultant
From India, Bidar
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Salary slip final.xls
Salary slip.doc