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Employee Provident Fund- FAQ..........

Page no : 2

Akshay Shah (I.T engineer) (26 Points)
Replied 19 February 2016

Dear Sir,

 

please i have some query need to understand this calculation.

 

This is my October-2015 EPF deduction as per my salary slip

Attendance Details

Value

 

Present

31 Days

Earnings

Amount

Deductions

Amount

Basic
HRA
Educational Allowance Medical Allowance Conveyance

4,778.00
7,963.00
1,593.00
1,274.00
319.00

Advance Salary

Professional Tax

Provident Fund ***

694.00
200.00
573.00

Total Earnings

15,927.00

Total Deductions

1,467.00

 

 

Net Amount

14,460.00

Employer Contribution **

Amount

 

PF Contribution Employer Pension Plan 8.33
PF Contribution From Employer 3.67

398.00
175.00

Total

573.00

 

 

And in the EPF passbook it shows like below

Particulars

Deposit

Withdrawal

Pension
Contribution

Employee Share

Employer Share

Employee Share

Employer Share

Cont. For 102015

573

175

 

 

398

 

 

From my salary as told by employer  is Total 16500 they deduct PF as from pay slip 573 twice from my salary .So

The calculation above says 16500-573(Deductions side***)-573 (Employer Contribution side**)=15354-other deductions 894(200+694)=in hand I received 14460.This is the calculation as per employer

 

But When I have seen the passbook of EPF it shows employee share 573 and employer share 175 is shown differently which is deducted and final figure pension contribution says only 398.

 

 

Questions

1.Is my company doing right calculations?

2.Why double deductions from the salary says PF and in passbook another employer share is deducted, There is deduction of 573 from salary twice means company paying 573 to govt. and govt. deducting 175 of employer,  I think I am facing a loss of 573+175=748 approx every month.

Where is this money going exactly ,if govt. is not receiving?

3.If I am paying PF from my own salary then why employer is showing as they as paying?

I am bit confused with the above query .Can you help me out with this.

U S Sharma (glidor@gmail.com) (21031 Points)
Replied 22 February 2016

-

U S Sharma (glidor@gmail.com) (21031 Points)
Replied 22 February 2016

Originally posted by : Akshay Shah
Dear Sir,

 

please i have some query need to understand this calculation.

 

This is my October-2015 EPF deduction as per my salary slip





Attendance Details


Value


 




Present


31 Days




Earnings


Amount


Deductions


Amount




Basic
HRA
Educational Allowance Medical Allowance Conveyance


4,778.00
7,963.00
1,593.00
1,274.00
319.00


Advance Salary

Professional Tax

Provident Fund ***


694.00
200.00
573.00




Total Earnings


15,927.00


Total Deductions


1,467.00




 


 


Net Amount


14,460.00




Employer Contribution **


Amount


 




PF Contribution Employer Pension Plan 8.33
PF Contribution From Employer 3.67


398.00
175.00




Total


573.00





 

 

And in the EPF passbook it shows like below





Particulars


Deposit


Withdrawal


Pension
Contribution




Employee Share


Employer Share


Employee Share


Employer Share




Cont. For 102015


573


175


 


 


398





 

 

From my salary as told by employer  is Total 16500 they deduct PF as from pay slip 573 twice from my salary .So

The calculation above says 16500-573(Deductions side***)-573 (Employer Contribution side**)=15354-other deductions 894(200+694)=in hand I received 14460.This is the calculation as per employer

 

But When I have seen the passbook of EPF it shows employee share 573 and employer share 175 is shown differently which is deducted and final figure pension contribution says only 398.

 

 

Questions

1.Is my company doing right calculations?

2.Why double deductions from the salary says PF and in passbook another employer share is deducted, There is deduction of 573 from salary twice means company paying 573 to govt. and govt. deducting 175 of employer,  I think I am facing a loss of 573+175=748 approx every month.

Where is this money going exactly ,if govt. is not receiving?

3.If I am paying PF from my own salary then why employer is showing as they as paying?

I am bit confused with the above query .Can you help me out with this.

573 + 175 + 398 = (573+573) 

the math is right for PF department 

 

in your  salary terms  gross payable with all perks maybe  is fixed and all govt contributions are likely  to be deducted from your salary. check with your employment  terms 


(Guest)

very useful sir. thank you sir.


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