Employers pf query

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CA Parul Saxena (Querist)

03 January 2015 rate of pf is 12% of salary such amount is deducted from salary and employers contribute equal amount but in the challans admin charges also there and various bifurcation like ac01, ac10, ac022 can somebody tell me about these bifurcations?????and after adding admin charges and employers pf in challans this amount must be matched with employees'pf amount in challan????

PRADEEP KUMAR VATS

PRADEEP KUMAR VATS (Expert)

03 January 2015 Dear Parul

PF rate for employees is 12% &
PF rate for employer is 13.61% and the bifurcation of 13.61% is

a) Employee providend fund 3.67%
b) Employee pension scheme 8.33%
c) Employee deposit linked insurance 0.5%
d) EPF Administrative charges 1.1%
e) EDLI Administrative charges .01%

So far reconciling of balaces are concerned, you can't match both the balances because the share of employer with admin charges will be 13.61% , however the share of employee is 12%.

Regards
Pradeep Kumar

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CA Parul Saxena

CA Parul Saxena (Querist)

03 January 2015 earlier out of 12% employers share 8.33% was for employee pension scheme but maximum upto Rs.541 i.e. 6500*8.33%......but now this limit of Rs.6500 has been increased to Rs.15000 so whether this limit of Rs.541 also has been increased?????

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