Provident Fund

This query is : Resolved

Guest

Guest (Querist)

16 May 2011 What are the rates of contribution to PF, Pension scheme and EDLIS for employer and employee? Please explain the computations for the following three salaries (basic+d.a.): -

1) 4,000 p.m.
2) 8,000 p.m.
3)50,000 p.m.

CS Bijoy

CS Bijoy (Expert)
Follow

17 May 2011 Contributions:

Statutory rate of contribution is 12% of emoluments (basic wages, dearness allowance, cash value of food concession and retaining allowances if any,) in the case of 175 establishments.
Rate of contribution shall be 10% in the case of the following:
Brick, beedi, jute, guar gum factories, coir industry other than spinning sector.
Establishments declared as sick undertakings by BIFR.
A matching contribution is to be collected from the emoluments of the employees.
Out of 12% (or 10% as the case may be) of the employer’s share of contribution, 8.33% is to be remitted towards pension fund.
Employer is also required to pay a contribution of 0.5% of the emoluments towards EDLIS’1976.