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clarification on PF

CA Biswaranjan (job) (149 Points)

23 October 2008

plz any 1 tell

if 1 employee gets salary of Rs10,000.00 pm then how much amount need to be contributed by employer and employee.

give ans with suitable examples

also tell-total of employee contribution will be transfered to pf a/c,

how much of employers contribution will be transfered to pf, pension fund and EDLI

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3 Replies

Arvind k Singh (Manager-Finance & Accounts) (88 Points)
Replied 23 October 2008

Originally posted by :biswaranjan
"	Employee Employer A/c No 1: PF contribution Account 12 3.67 A/c No 2: PF Admin account 1.10 A/c No 10: EPS account 8.33 A/c No 21: EDLIS account 0.50 A/c No 22: EDLIS admin account 0.01 12 % 13.61%	"

CA CS Akashdeep Singh (Practicing CA) (1394 Points)
Replied 23 October 2008

Thanks...really a good information

Originally posted by :Arvind

Originally posted by :biswaranjan

"

                                            Employee   Employer
A/c No 1: PF contribution Account 12                  3.67
A/c No 2: PF Admin account                              1.10
A/c No 10: EPS account                                   8.33
A/c No 21: EDLIS account                                 0.50
A/c No 22: EDLIS admin account                       0.01
                                               12  %            13.61%

"

Juzer Sadikot (CA - innovative solutions for Imports and Exports) (1309 Points)
Replied 07 November 2008

Hi all

If an employee is earning salary (for the purpose of PF) of Rs. 10,000.00 then employer is not statutarily liable or oblige to deduct pf and contribute his matching contribution to PF. The eligibility for PF scheme is the person earning salary upto Rs. 6500.00 pm.

Regards