Interested to Buy Any Domain ? << Click Here >> for more details...
Sir I am taking the Salary Rs 18000/- the shown to me in
Pay Roll Basis but not deduct any PF. Plz told me tha is
the company liable to deduct my PF?
- 5 Answers
- 12884 Views
- I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
PF is governed by 'Employees Provident Fund & Miscellaneous
Provisions Act, 1952' in India. Contributions as per this :-
It needs to be calculated at the specified rate on the Basic
Salary + DA of Rs. 6500/- whichever is lower. However, a
company can contribute it on the actual salary which is
higher than the above limit.
Both the Employer & the Employee needs to contribute to EPF,
EPS, EDLI, and there are some exclusions & exceptions for
covering the establishments and also the rates.
The contributions at different rates (12%, 8.33%, 3.67%,
1.1%, .5%, .01%) have to be paid to different accounts
specified in the Act. referred above.
This answer is not complete and comprehensive. For more &
updated info, read the latest edition of the above Act,
contact the EPFO or Labour Consultants or a good HR Manager.
| Is This Answer Correct ? | 8 Yes | 1 No |
Post New Answer View All Answers
What is the purpose of accounts like e.g. expense accounts assigned a account number 0040, principal account assigned anumber 0060.In our general ledger software such numbers are assigned.I want to know how these numbers (accounts) help in maintaing accounts of a company (like bank reconciliation).
What are the rules for debit and credit for different accounts to increase the amount in your business accounts?
What is the double entry system explain its rules with examples?
Journalize the Following: 1. The following were purchased on account: a. Materials $ 10,000 b. Office supplies $ 2,000 c. Small tools $ 1,000
how to caluclate tds from emloyees and others
how to we pass a purchase entry in item invoice mode where some advance has been paid to the party. the purchase entry should get offset with the advance payment entry so that it does not appear in the bill outstanding or bills due list. please guide.thank you
If company invest Rs. 3,00,000 in Chit & Fund and later received with Profit Rs. 3,50,0000 = (Rs. 3,00,000 + 50,000 profit amount). Pls advise how to pass the profit amount...and in which head the profit amount goes
Explain which account is responsible for interest payable?
What are the accounting events that are frequently involved in compound entries?
what is different between leaser of subsidary book and journal?
How to Automate requirment mapping in QC?
under which ledger should i make opening work in progess and closing work in progress
Tell me why some asset accounts have a credit balance?
What's the accounting entry when an Invoice is created in AR?
what is share application money pending allotment?
