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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.
Write a letter to employer not to deduct pf contribution?
To, Account department Sub: Provident deduction Dear Mam, This is Radheshyam pal, I am your new employee of your company I want request you please do not Deduct my P.F in my salary. Please do needful. Faithfully Radheshyam pal.
What is the employer's contribution to PF as a percent of of salary?
12% of the basic salary
What much employer contribution in pf?
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.
How is provident fund calculated for daily wage employee?
Usually provident fund is 12% of your basic salary. For daily wage employees it depends on the various components of your salary that your employer is paying out on a daily basis. Assuming you earn a salary of Rs. 200/- every day and your employer has put out Rs. 100/- as basic salary every day then your total basic salary per month would be Rs. 3000/- (approx) which in turn would mean that Rs. 360/- would be your monthly PF contribution. If your employer is registered with the EPF organization of India, then he can deduct this money from your salary and remit it with the EPF department every month against your name.
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.
Is it legal that whole 12 plus 12 equals 24 percent PF deduction is made thoroughly by employees salary?
It depends. If the employers contribution of 12% is included in your annual salary component (also called CTC) then yes, it is legal. For ex: If as per your offer letter - Monthly Salary = Rs. 10000 and Annual Salary = 1,34,400/- Then the employer contribution of 12% of your salary is included in your annual salary. So, if the employer deducts 2400 from your monthly salary it is legal. However, if your monthly salary = Rs. 10,000 and Annual Salary = Rs. 1,20,000/- and still your employer deducts 2400 from your salary it is illegal
In Texas can an employer tell other employees your salary?
Your salary is never a secret.
Is employer a person?
An employer is a person who employs workers or staff (employees) for a wage or salary.
Can an employer deduct vacation days if you don't work a full 40hrs a week salary?
Vacation is an unregulated gift from the employer, who can manage it as he / she sees fit.
Can form 16 be issued if there is no tax deducted?
No. If the employer does not deduct any tax from your salary, they will not issue a form 16
Can an employer pay gross instead of net?
Employers are required to deduct salary taxes before paying salaries that's why they have to pay net salary rather gross salary.
