Provident fund

[akhilesh dubey]

Dear Members .


please find details for PF contirbution below.


Regarding PF Contribution -Employer should pay 12% of Basic salary, in which 8.33% will goes to Pension Scheme balance 3.67 will goes to PF.

While calculating the Pension Scheme employer should pay 8.33% of basic (limit is upto Rs.6500/ ie Rs.541/-) not more than that rest will goes to PF.

For eg. If the employees is getting Basic salary of Rs.8000/- Rs.541/-(8.33%) will goes to pension scheme and Rs.419/- will goes to PF, however employer has to contribute 12% of basic, whatever be the amount.

Regarding Employee Contribution of 12% from basic is unavoidable as per the PF act.

Rate of Contribution


What may it may be the company they have to contribute the below following

Employee 12%

(Basic wages, dearness allowance)


Employer 13.61%

Contribution:

3.67% = Provident Fund (A/c No.1)

8.33% = Pension Fund (A/c No.10)

0.5% = EDLIS -Employees Direct Linked Insurance Scheme (A/c No.21)

Administrative Charges:

1.10% of emoluments = Provident Fund (A/c No.2)

0.01% of emoluments = EDLIS (A/c No.22)



Total 25.61%

[supercool]

Hello

I have a question.

Employer will deduct from employee 12%

And in my CTC employer part is given 13.61%

Is this mean every month how much % is going to my PF Fund? 12+13.61 ?

Thanks in advance

[akhilesh dubey]

Hii Dear,

In your PF acount it will not be going 12+13.61% coz 1.11% is administrative charge.
But they are incluted in CTC

[supercool]

Yes, that i know

I am asking not it showing in CTC