Pf contribution
This query is : Resolved
04 February 2012
I am working for Corporate Company. My Basic Pay is Rs. 11937/- The company has offered me a Package of 3,78000 /- which includes PF deduction of 17,189 /- p/a. Per month it comes 1432/-. My Gross/Month including PF is 31550. After deduction of1432/- it is 30118- p/m.
Here comes the confusion. On the Gross amount(after PF Deduction), the company is again showing 1432 in the Deductions column. Is this allowed? Actually the company is not contributing any PF to me. Both Employee and Employer contribution is being taken from my CTC to a total of 1432+1432. Please advise if any action can be taken on this.
Here comes the confusion. On the Gross amount(after PF Deduction), the company is again showing 1432 in the Deductions column. Is this allowed? Actually the company is not contributing any PF to me. Both Employee and Employer contribution is being taken from my CTC to a total of 1432+1432. Please advise if any action can be taken on this.
04 February 2012
12% of your basic Employer should contribute to EPS & EPF. CTC is the Cost To the Company, hence whatever amount they spend on you they will add to CTC. In this case employer is contributing EPF amount hence they are adding to your CTC.
04 February 2012
agreed with the expert
As per amendment-dated 22.9.1997 in the Act, both the employees and employer contribute to the fund at the rate of 12% of the basic wages, dearness allowance and retaining allowance, if any, payable to employees per month.
regards,
As per amendment-dated 22.9.1997 in the Act, both the employees and employer contribute to the fund at the rate of 12% of the basic wages, dearness allowance and retaining allowance, if any, payable to employees per month.
regards,
04 February 2012
Thank you for your reply. so In my case, what ever the PF included in my ctc is the employer contribution? Also as per PF Policy the deduction of 12 % of Basic is limited to 6500 only. But my basic is 11977. They are taking 12% of my entire basic. IS this reasonable
06 February 2012
12% employer contribution is mandatory towards EPS and EPF partially. You need not to worry. If you have doubt you ask your employer PF statement.
06 February 2012
agreed with the expert.
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 194-T applicability
- Fixe term employment
- GST ITC REVERSE
- Regarding Applicability of Tax Audit u/s 44AB
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Tds on commission charges
- TDS on TRUST
- Section 50-fixed asset-->building ceases to exist
- Consolidated financials
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
