Employee Provident Fund- FAQ..........

Page no : 2

Akshay Shah (I.T engineer) (26 Points)
Replied 19 February 2016

Dear Sir,

please i have some query need to understand this calculation.

This is my October-2015 EPF deduction as per my salary slip

Attendance Details	Value
Present	31 Days
Earnings	Amount	Deductions	Amount
Basic HRA Educational Allowance Medical Allowance Conveyance	4,778.00 7,963.00 1,593.00 1,274.00 319.00	Advance Salary Professional Tax Provident Fund ***	694.00 200.00 573.00
Total Earnings	15,927.00	Total Deductions	1,467.00
		Net Amount	14,460.00
Employer Contribution **	Amount
PF Contribution Employer Pension Plan 8.33 PF Contribution From Employer 3.67	398.00 175.00
Total	573.00

And in the EPF passbook it shows like below

Particulars	Deposit		Withdrawal		Pension Contribution
Particulars	Employee Share	Employer Share	Employee Share	Employer Share	Pension Contribution
Cont. For 102015	573	175			398

From my salary as told by employer is Total 16500 they deduct PF as from pay slip 573 twice from my salary .So

The calculation above says 16500-573(Deductions side***)-573 (Employer Contribution side**)=15354-other deductions 894(200+694)=in hand I received 14460.This is the calculation as per employer

But When I have seen the passbook of EPF it shows employee share 573 and employer share 175 is shown differently which is deducted and final figure pension contribution says only 398.

Questions

1.Is my company doing right calculations?

2.Why double deductions from the salary says PF and in passbook another employer share is deducted, There is deduction of 573 from salary twice means company paying 573 to govt. and govt. deducting 175 of employer, I think I am facing a loss of 573+175=748 approx every month.

Where is this money going exactly ,if govt. is not receiving?

3.If I am paying PF from my own salary then why employer is showing as they as paying?

I am bit confused with the above query .Can you help me out with this.

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U S Sharma (glidor@gmail.com) (21063 Points)
Replied 22 February 2016

Originally posted by : Akshay Shah
	Dear Sir, please i have some query need to understand this calculation. This is my October-2015 EPF deduction as per my salary slip Attendance Details Value Present 31 Days Earnings Amount Deductions Amount Basic HRA Educational Allowance Medical Allowance Conveyance 4,778.00 7,963.00 1,593.00 1,274.00 319.00 Advance Salary Professional Tax Provident Fund * 694.00 200.00 573.00 Total Earnings 15,927.00 Total Deductions 1,467.00 Net Amount 14,460.00 Employer Contribution Amount PF Contribution Employer Pension Plan 8.33 PF Contribution From Employer 3.67 398.00 175.00 Total 573.00 And in the EPF passbook it shows like below Particulars Deposit Withdrawal Pension Contribution Employee Share Employer Share Employee Share Employer Share Cont. For 102015 573 175 398 From my salary as told by employer is Total 16500 they deduct PF as from pay slip 573 twice from my salary .So The calculation above says 16500-573(Deductions side*)-573 (Employer Contribution side)=15354-other deductions 894(200+694)=in hand I received 14460.This is the calculation as per employer But When I have seen the passbook of EPF it shows employee share 573 and employer share 175 is shown differently which is deducted and final figure pension contribution says only 398. Questions 1.Is my company doing right calculations? 2.Why double deductions from the salary says PF and in passbook another employer share is deducted, There is deduction of 573 from salary twice means company paying 573 to govt. and govt. deducting 175 of employer, I think I am facing a loss of 573+175=748 approx every month. Where is this money going exactly ,if govt. is not receiving? 3.If I am paying PF from my own salary then why employer is showing as they as paying? I am bit confused with the above query .Can you help me out with this.

573 + 175 + 398 = (573+573)

the math is right for PF department

in your salary terms gross payable with all perks maybe is fixed and all govt contributions are likely to be deducted from your salary. check with your employment terms

(Guest)

very useful sir. thank you sir.

Suveera Patil (nil) (48 Points)
Replied 29 June 2022

Employee Provident Funds (EPFs) help people save up a sufficient retirement fund. EPFO manages the plan which was introduced with the Employees' Provident Fund Act in 1952.