Provident fund

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Ritesh Bharadiya

Ritesh Bharadiya (Querist)

04 March 2013 pl suggest me what is the criteria for PF duduction for both employee & employer

Rajnish Singh

Rajnish Singh (Expert)

04 March 2013 DEAR RITESH,

IF A COMPANY HAS MINIMUM NO OF EMPLOYESS IS 20 OR MORE THAN THEY HAVE TO PAY EPF AND ESIC.

SECOND CONDITION IS THERE BASIC SHOULD BE UP TO 6500/. IF HIS BASIC IS MORE THAN 6500 THAN ITS DEPEND OF COMPANY THAT EITHER THEY DEPOSIT OR NOT.

12% IS EMPLOYEE SHARE AND 12% IS EMPLOYER AND ALSO 1.61% PAID BY EMPLOYER . TOTAL SHARE IS 25.61%.

Ritesh Bharadiya

Ritesh Bharadiya (Querist)

04 March 2013 Thanks for reply but sir if employee work with the same company only one month then we can deduct the PF. Pl tell me how many month employee sholud work with one company & their procedure about PF as well as PT.

Santosh Mishra

Santosh Mishra (Expert)

04 March 2013 Employees are entitled to become member of the fund from 1st month itself. There is no such time limit or waiting period for PF contribution and PT deduction.

You should deduct PF from his first salary no matter employee leaving the job later.

Please feel free to revert in case you require more information.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now