No Tags Found!

SH

Shai89308

Executive Hr

AS

Ammu Shanvi

Human Resource

GS

G SHASHI KRISHNA

Senior Manager - Hr

AH

Aizant HR

Human Resources

MA

MARSHAL

Safety Officer

AK

Anish Katoch

Hr Executive

PR

PranjalR

Hr Recruiter

AP

Alka Pal

Hr Executive

Karthikeyan8195

Management Consultant

MK

Mohit Kumar Puri

Head Marketing

AU

Austex

Accounts Manager


sandeepmh01@gail.com
1

Basic salary+DA = 50000 then how calculate contribution according employer
From India, Lucknow
thakermit@gmail.com
1

it is above ceiling limit no need calculate contribution of PF
From India, Ahmedabad
thakermit@gmail.com
1

but he/she recently joined with you and previous employment of he/she member of PF so, we have to deduct and contribute PF.
From India, Ahmedabad
Madhu.T.K
3891

There are two ways, one to give PF on Rs 50000, ie, on the basic and DA without restricting the PF qualifying salary to Rs 15000. another way is to pay it only on Rs 15000. For that you have to provide one more column in the payroll sheet for "PF Qualifying salary" in which you can put 15000 which will ultimately be taken to find out the PF contribution.
Nowhere in the PF Act it is stated that you should not pay contribution on salary above Rs 15000 and most of the good companies follow the practice of paying it on higher salary. Only thing is that pension fund contribution of 8.33% by the employer is restricted to 8.33% of 15000.

From India, Kannur
Shylaja
Dear Mr. Madhu,
Further to the above discussion, request your advise on the case below :
Employees's Gross wages : Rs.42000 /- (Basic + Special Allowance +Mobile allowance)
EPF Wages : Rs.15000/- ( as per ceiling limit)
What should be filled in Column C - Gross Wages in ECR XL? a)Rs. 42000/- i.e. actual GROSS WAGES?
OR
b)Rs. 15000/- as per ceiling limit.
Also, on what is the PF Admin Charges calculated ?
Please refer this example below :
NAME GROSS WAGES EPF WAGES EPS WAGES EDLI WAGES EPF CONTRI REMITTED
Mr. A 42000 15000 15000 15000 1800
Mr. B 30000 15000 15000 15000 1800
Mr. C 24000 15000 15000 15000 1800
Mr. D 18000 15000 15000 15000 1800
Kindly help and advise.
Regards
Shylaja

From India, Bangalore
Madhu.T.K
3891

If you contribute on actual salary without restricting to Rs 15000, you can fill Rs 42000 in PF Salary I don't know what do you mean by Col C) and in such cases the PF contribution would be 12% of 42000, Rs 5040, Employer contribution to Pension Fund will be 8.33% PF Rs 15000 (till a final decision is made and system is adjusted accordingly by EPFO) Rs 1250, employer contribution to PF will be Rs 3790 (5040- 1250) and EDLI will be 0.5% of Rs 15000 or Rs 75.
On the otherhand, if your policy is to restrict the contribution to 12% of Rs 15000,make it as 1800 employees share to PF, 1250 (pension fund), Rs 550 employer's share to PF and EDLI Rs 75

From India, Kannur
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.




About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.