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Does Gross salary include PF Contribution by the company?
no!
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
Can pf contribution of employee be reduced?
No. It is set at a minimum of 12% of the employees basic salary
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
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
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.
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.
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.
How much do the employers contribute to PF in case of jute industry?
The rate of contribution is 10% in respect of any establishment engaged in manufacturing of jute ,coir,brick, gum.. Etc.
What is PF?
A social security system known as Provident Fund was established in order to encourage employees to save and to benefit them in retirement. Each month, the employee and the employer contribute to the Provident Fund (PF). With a few notable exceptions, an employee’s contribution to the PF may only be withdrawn during the duration of their job. Employers registering with PF are required to submit their PF returns on a monthly basis. Each month’s 25th is the deadline for completing the PF return files. We shall go into great detail regarding the several forms that are used to file PF returns here. Employers can utilize the Unified site to conveniently file their PF returns.
