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Does Gross salary include PF Contribution by the company?
no!
Does gross salary include employer's contribution to the PF of the employee in India?
In India, gross salary typically refers to the total earnings of an employee before any deductions, including basic salary, allowances, bonuses, and other benefits. The employer's contribution to the Provident Fund (PF) is not included in the gross salary; it is considered a separate benefit. Consequently, while the employee's own PF contribution is deducted from their gross salary, the employer's contribution is an additional amount provided by the employer.
Is it legal that whole 12 plus 12 equals 24 percent PF deduction is made thoroughly by employees salary?
It depends. If the employers contribution of 12% is included in your annual salary component (also called CTC) then yes, it is legal. For ex: If as per your offer letter - Monthly Salary = Rs. 10000 and Annual Salary = 1,34,400/- Then the employer contribution of 12% of your salary is included in your annual salary. So, if the employer deducts 2400 from your monthly salary it is legal. However, if your monthly salary = Rs. 10,000 and Annual Salary = Rs. 1,20,000/- and still your employer deducts 2400 from your salary it is illegal
What basis can an employer deduct his share of pf contribution from employees salary?
On the basis of the Basic Salary component that is part of the salary. The amount contributed is 12% of the basic salary from employee as well as an equal contribution by the employer
Can pf contribution of employee be reduced?
No. It is set at a minimum of 12% of the employees basic salary
Is PF to be paid by the company into the employees account is deducted from employees salary?
No, the Provident Fund (PF) contribution is not directly deducted from the employee's salary. Instead, it is a statutory benefit where both the employer and employee contribute a percentage of the employee's basic salary to the Provident Fund account. The employer's contribution is a separate contribution made by the company, while the employee's portion is typically deducted from their salary before it is disbursed.
What is the employers share in provident fund?
It is the same 12% of your basic salary as you contribute to PF as employees share
How do you deduct PF contribution for piece rate employee?
You need to fix a certain amount as basic salary if you want to deduct PF. set a minimum number as basic salary and calculate PF on it. The remaining amount based on piece rate can be added a different component in the persons salary
Can you use Leadership in a sentence?
i request to you for above Subject. My PF Account is closed for Financial Problem reason. My Monthly salary Rs.3675/- I hope to you to PF Company Contribution Rs. 441/- is added to direct My salary.
Who is responsible for PF?
An employee whose drawing wage or basic salary has upto rs 6500/- responsible to pay pf contribution 12 % from employer & employee respectively.
How much percentage of provident fund are cutting down on basic salary?
Actually PF deductions with employee is 12% from Basic and contribution for PF by employer is 12% +1.61% Adminstration charges. So total percent given by an employer is 13.61% Employees complete 12% goes to PF account while employer contributions' 8.33% goes to Pension fund and 3.67% goes to PF fund. But this differs from company to company
What is ee amount in pf?
ER Stands for the Employer Contribution in your PF Amount.
