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In India, the employer's contribution to the Employees' Provident Fund (EPF) is generally 12% of the employee's basic salary plus dearness allowance. Out of this, 8.33% is directed towards the Employees' Pension Scheme (EPS), while the remaining 3.67% goes into the EPF. For companies with less than 20 employees, the employer’s contribution may be reduced to 10%. Additionally, the government may provide benefits for small businesses under certain conditions.
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What is ee amount in pf?
ER Stands for the Employer Contribution in your PF Amount.
What is the employer's contribution to PF as a percent of of salary?
12% of the basic salary
Does gross salary include employer's contribution to the PF of the employee in India?
In India, gross salary typically refers to the total earnings of an employee before any deductions, including basic salary, allowances, bonuses, and other benefits. The employer's contribution to the Provident Fund (PF) is not included in the gross salary; it is considered a separate benefit. Consequently, while the employee's own PF contribution is deducted from their gross salary, the employer's contribution is an additional amount provided by the employer.
How much percentage of provident fund are cutting down on basic salary?
Actually PF deductions with employee is 12% from Basic and contribution for PF by employer is 12% +1.61% Adminstration charges. So total percent given by an employer is 13.61% Employees complete 12% goes to PF account while employer contributions' 8.33% goes to Pension fund and 3.67% goes to PF fund. But this differs from company to company
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.
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
How much your new employer can deduct for employee provident fund for partial month working?
PF contributions depends on you basic salary. Eg. if you have worked for 15 days , then on 15 days basic, your pf contribution will be calculated i.e 13.61%of basic .
Is PF to be paid by the company into the employees account is deducted from employees salary?
No, the Provident Fund (PF) contribution is not directly deducted from the employee's salary. Instead, it is a statutory benefit where both the employer and employee contribute a percentage of the employee's basic salary to the Provident Fund account. The employer's contribution is a separate contribution made by the company, while the employee's portion is typically deducted from their salary before it is disbursed.
Whether ctc included employee pf and employer pf?
Yes. CTC includes both Employee and Employer PF contributions
Who is entitle for PF?
All the employees are entitled to receive PF from their employer if the employer has more than 20 employees
Is an employer's contribution for the PF Fund considered part of Cost-to-Company in India?
Yes it is considered as cost to company, since the benefit would be enjoyed by the employee at a later stage or when he resigns from the company he can transfer or with draw the complete PF money..
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