Pf deduction
This query is : Resolved
08 January 2015
which salary is considered for pf deduction???
& also mention the rate???
& also mention the rate???
08 January 2015
Basic Salary...@ 12 %
The definition of ‘Basic Wages’ has been defined under Section
2(b) of the EPF as below:
Section 2(b) “basic wages” means all emoluments which are earned by an employee
while on duty or on leave or on holidays with wages in either case in accordance
with the terms of the contract of employment and which are paid or payable in cash
to him, but does not include
i. the cash value of any food concession;
ii. any dearness allowance (that is to say, all cash payments by whatever name
called paid to an employee on account of a rise in the cost of living), houserent
allowance, overtime allowance, bonus, commission or any other
similar allowance payable to the employee in respect of his employment or
of work done in such employment;
iii. any presents made by the employer;
The definition of ‘Basic Wages’ has been defined under Section
2(b) of the EPF as below:
Section 2(b) “basic wages” means all emoluments which are earned by an employee
while on duty or on leave or on holidays with wages in either case in accordance
with the terms of the contract of employment and which are paid or payable in cash
to him, but does not include
i. the cash value of any food concession;
ii. any dearness allowance (that is to say, all cash payments by whatever name
called paid to an employee on account of a rise in the cost of living), houserent
allowance, overtime allowance, bonus, commission or any other
similar allowance payable to the employee in respect of his employment or
of work done in such employment;
iii. any presents made by the employer;
08 January 2015
Some where rate can b 10 %
10% rate is applicable for
Any establishment in which less than 20 employees are employed.
Any sick industrial company and which has been declared as such by the Board for Industrial and Financial
Reconstruction
Any establishment which has at the end of any financial year, accumulated losses equal to or exceeding its
entire net worth and
Any establishment in following industries:-
(a) Jute (b) Beedi (c) Brick (d) Coir and (e) Guar gum Factories.
10% rate is applicable for
Any establishment in which less than 20 employees are employed.
Any sick industrial company and which has been declared as such by the Board for Industrial and Financial
Reconstruction
Any establishment which has at the end of any financial year, accumulated losses equal to or exceeding its
entire net worth and
Any establishment in following industries:-
(a) Jute (b) Beedi (c) Brick (d) Coir and (e) Guar gum Factories.
08 January 2015
one more query
for ESI deduction
For esi deduction the slab rate of 15000 is considered on which salary gross or basic??????
for ESI deduction
For esi deduction the slab rate of 15000 is considered on which salary gross or basic??????
08 January 2015
Salary definition in pf and esi is differ
ESI applicable on gross salary
ESI applicable on gross salary
08 January 2015
Hi
PF is calculated @12% on Basic + DA + Special allowances
Refer FAQ https://www.caclubindia.com/forum/details.asp?mod_id=233718
Pl note from Sep 14 limit for wages is increased to Rs 15k from Rs. 6500
PF is calculated @12% on Basic + DA + Special allowances
Refer FAQ https://www.caclubindia.com/forum/details.asp?mod_id=233718
Pl note from Sep 14 limit for wages is increased to Rs 15k from Rs. 6500
08 January 2015
Refer article for your query on ESi
https://www.caclubindia.com/articles/esic-in-detail-16236.asp
https://www.caclubindia.com/articles/esic-in-detail-16236.asp
08 January 2015
ok
thnku all experts
thnku all experts
Message likes :
1 times
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
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- About TDS & Income Tax
- Under construction property in ITR
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Upload Level ValidationITR3Category of Defect B/D
- Not able to file ITR
- Building tax payment deduction in rental Income
- FEMA regulation Act. for inward remitance
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
