Admin. charges on pf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 December 2012
is there any rule of payaing just admin charges and neither of the contributions?
03 December 2012
PROVIDENT FUND ACT 1952:
Objective
The Employee's provident funds and miscellaneous provisions act, 1952 is enacted to provide a kind of social security to the industrial workers. The Act mainly provides retirement or old age benefits, such as Provident Fund, Superannuation Pension, Invalidation Pension, Family Pension and Deposit Linked Insurance.
Applicability of the Act
To every factory employing 20 or more persons.
An employee whose pay at the time he is otherwise entitled to become a member of the fund exceeds Rs.6500/- per month
An Employee who having been a member of the fund, has withdrawn the fullamount of his contribution in the fund
(a) on retirement from service after attaining the age of 55 years or
(b) before migration from India for permanent settlement abroad; or for taking employement abroad.
RATES OF CONTRIBUTION
(Provident Fund is Calculated from Basic Salary + DA)
Scheme Employer
(EPF) 3.67%
(EPS) 8.33%
Admin Charges 1.10%
EDLI) 0.50%
EDLI Admin Charges 0.01%
Total 13.61%
Objective
The Employee's provident funds and miscellaneous provisions act, 1952 is enacted to provide a kind of social security to the industrial workers. The Act mainly provides retirement or old age benefits, such as Provident Fund, Superannuation Pension, Invalidation Pension, Family Pension and Deposit Linked Insurance.
Applicability of the Act
To every factory employing 20 or more persons.
An employee whose pay at the time he is otherwise entitled to become a member of the fund exceeds Rs.6500/- per month
An Employee who having been a member of the fund, has withdrawn the fullamount of his contribution in the fund
(a) on retirement from service after attaining the age of 55 years or
(b) before migration from India for permanent settlement abroad; or for taking employement abroad.
RATES OF CONTRIBUTION
(Provident Fund is Calculated from Basic Salary + DA)
Scheme Employer
(EPF) 3.67%
(EPS) 8.33%
Admin Charges 1.10%
EDLI) 0.50%
EDLI Admin Charges 0.01%
Total 13.61%
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- TDS AND ITR ISSUE
- EXPORT COMMERCIAL INVOICE HSN CODE
- Bank details not Visible on Traces Portal
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
