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Can an employer make 401k contribution which is higher for employer than employee with the same salary?
Wiki User
∙ 14y ago
dependaing upon the age of the participants, yes.. In a "cross-tested" or age-weighted plan, the contribution may be different for persons with the same compensation but different ages.
Wiki User
∙ 14y ago
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What basis can an employer deduct his share of pf contribution from employees salary?
On the basis of the Basic Salary component that is part of the salary. The amount contributed is 12% of the basic salary from employee as well as an equal contribution by the employer
What is the percentage of employer's contribution to provident fund on employee's basic?
It is 12% of your Basic Salary
Who is responsible for PF?
An employee whose drawing wage or basic salary has upto rs 6500/- responsible to pay pf contribution 12 % from employer & employee respectively.
Why employer hier experienced employee at hire salary?
Employers hire experienced employees at a higher salary due to the experience level. This is due to the fact that the experience will be an asset the employer who will not be forced to invest in too much training on the employee.
What journal entry for provident fund?
To record employee contributions to the provident fund: Debit Provident Fund Expense and Credit Employee Contribution Payable. To record employer contributions: Debit Provident Fund Expense and Credit Employer Contribution Payable.
What is the employer's contribution to PF as a percent of of salary?
12% of the basic salary
What is flexible benefit plan component in salary?
A flexible benefit plan is a component of salary since the employee contributes part of the money used to buy the benefits. Between the employer's contribution, and the employee's contribution, a person can choose from a variety of benefits including health, dental, and long-term disability
IS Employee and employer contribution can be duducted from the Employee Salary Please Guide Soonly.?
It depends on your terms of agreement for the job. In most cases, company's pay you by CTC - Cost To Company. In such cases, both employee and employer contributions are considered a part of your salary and the CTC. So, Yes, it is possible and is done in a majority of the private sector cos
Mathematical applications of computer?
use to calculate the salary details of employee and their contribution to the funds use to calculate the salary details of employee and their contribution to the funds
Can an employer in India reduce an employee's salary?
yes.
What is best for employer hourly or salary pay to employees?
It depends on the employee, the employer, the industry, and the type of position.
How do you calculate salary slips on a cost-to-company basis?
== == Cost to company in brief means all the cost which the company incurrs for maintaining the employee. This generally includes not just the salary which the employee draws at the end of the month but also includes all the other components like 1. Employer contribution to PF 2. Employer contribution for insurance / pension schemes 3. meal subsidies 4. travel subsidies etc. This may not neccessarily form part of the salary slip, but are taken into consideration for computing cost to company
