FAQs on Vakilsearch PF Interest Calculator How is EPF deducted from pay? To contribute to your EPF, you as well as your employer must send 10% or 12% of your base pay. Female employees, on the other hand, are only required to contribute 8% of their base pay for the first 3 years....
The Employee Provident Fund Organization (EPFO) has come up with a fresh idea: more money should be deducted from your salary for Provident Fund (PF).They have announced this via a circular dated 30 November, 2012. Read on to get the full details, and how it impacts you. Provident …[R...
The organization prepares a new salary breakup for him with Basic Salary Rs. 15100/- plus Rs. 24900/- as Other allowances (like conveyance, medical, HRA etc.) but does not deduct EPF this time. From the above situation, my question is that, "is it legal and as per EPF regulation to...
#3. Employee Deposit Linked Insurance SchemeThis scheme is for all the PF account holders. According to it, 0.5% of the salary is deducted from the life insurance premium. #4. Long-term goalsThere are many long-term goals such as Marriage or higher education that require the urgent availabi...
Media reports had previously highlighted the issue, bringing it to public attention, as employees were unsure of where their deducted PF contributions were going. With the recent settlement of PF dues, employee morale is expected to improve. Also, with these financial settlements, SpiceJet hopes ...
(EPFO). It is covered under the Employees’ Provident Fund Act, 1952. An employee receiving a basic salary of Rs.6500 must contribute to EPF. As an EPF, 12% of the basic pay of an employee is deducted from the salary on a monthly basis as a contribution for an EPF account. The ...
Employer Contribution:12% of the employee's basic salary. EPF:3.67% EPS:8.33% EDLI (Employees' Deposit Linked Insurance):0.5% Administrative Charges for EPF & EPS:1.1% Administrative Charges for EDLI:0.01% The monthly returns generated from these contributions help grow the corpus over time,...
Currently, employers & employees contribute only 12% of Basic Salary & DA only. Employees get other allowances (fixed or specific purposes like conveyance allowance, special allowance, food allowance etc) on which no PF is contributed / deducted. ...
The FIR further mentioned that the amount deducted from the salaries of workers as employee share of PF contribution “has not been remitted for crediting in the accounts of the employees as PF/Pension Fund contribution within the mandatory 15 days of close of every month for the period 0...
Revised EPF Form 3A to be submitted for salary more than 15,000 EPF Claim rejected due toDOJ/DOL Reasons This error might have occurred because your employer might have entered your wrong date of joining or the date of leaving. As a result, if your return is not filed for a particular ...