payment of share of PF
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 April 2010
Our company is yet to become member of PF. In case it becomes a member, what is the share of % to be recovered from employee and what is the share the employer must pay to PF office. Is the employer contribution, treated as expense amd show it in the books of accounts. Can the employer get back his payments on any account at a later stage Is there any rule or exception. kindly guide. It is urgent.
11 April 2010
From the Empolyee 12% of basic need to be recovered and the employer has to contribute 12% (comprasing 8.33% Pension fund and 3.67% for EPF) and the employer contribution is expenses of employer can show in the p&l a/c. the employer contribution never come back to the employer and it will go the the employee or otherwise his legal heirs only always
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