Provident fund
This query is : Resolved
04 March 2013
pl suggest me what is the criteria for PF duduction for both employee & employer
04 March 2013
DEAR RITESH,
IF A COMPANY HAS MINIMUM NO OF EMPLOYESS IS 20 OR MORE THAN THEY HAVE TO PAY EPF AND ESIC.
SECOND CONDITION IS THERE BASIC SHOULD BE UP TO 6500/. IF HIS BASIC IS MORE THAN 6500 THAN ITS DEPEND OF COMPANY THAT EITHER THEY DEPOSIT OR NOT.
12% IS EMPLOYEE SHARE AND 12% IS EMPLOYER AND ALSO 1.61% PAID BY EMPLOYER . TOTAL SHARE IS 25.61%.
IF A COMPANY HAS MINIMUM NO OF EMPLOYESS IS 20 OR MORE THAN THEY HAVE TO PAY EPF AND ESIC.
SECOND CONDITION IS THERE BASIC SHOULD BE UP TO 6500/. IF HIS BASIC IS MORE THAN 6500 THAN ITS DEPEND OF COMPANY THAT EITHER THEY DEPOSIT OR NOT.
12% IS EMPLOYEE SHARE AND 12% IS EMPLOYER AND ALSO 1.61% PAID BY EMPLOYER . TOTAL SHARE IS 25.61%.
04 March 2013
Thanks for reply but sir if employee work with the same company only one month then we can deduct the PF. Pl tell me how many month employee sholud work with one company & their procedure about PF as well as PT.
04 March 2013
Employees are entitled to become member of the fund from 1st month itself. There is no such time limit or waiting period for PF contribution and PT deduction.
You should deduct PF from his first salary no matter employee leaving the job later.
Please feel free to revert in case you require more information.
You should deduct PF from his first salary no matter employee leaving the job later.
Please feel free to revert in case you require more information.
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