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Employee Provident Fund

A category for Employee Provident Fund, a retirement scheme for Private Sector Employees

270 Questions

What is provident fund in salary?

The Government wants to tell us the importance of routine saving over a long time. This lumpsum given during retirement can be used by the employee to continue his life without being financially dependent on anyone and stand on his own legs...

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 do you maintain our Employee Provident Fund record?

The Employee Provident Fund record is maintained by the EPF Organization and a copy of the latest statement will be provided to both the employee and employer as requested

Can a pvt limited company hold the provident fund of an employee after resignation?

No. After an employee resigns, the money has to be either paid out to the employee or transferred to his new employer - as per the request of the employee

How can you inquiry of epf account?

I d not have my EPF account number and tried to talk to get from my previous company but unable to get the same. My Name is chetna Rustagi and worked with HDFC standard life.

Who is the industry leader in mutual fund?

FMR Corporation of Boston, Massachusetts, better known as the Fidelity Group, is the world's leading mutual fund company, serving approximately 18 million individual and institutional clients

How can you know about my pf balance?

Each year most companies give a PF statement to their employees. If this has not been given to you, you need to find out who your PF trust is and what your PF id and you need to get in touch directly with the PF trust to get your account statement. Alternatively, you can ask your previous company to get it for you.

What is the amount of PF deduction if my Basic salary is 9500?

Rs. 1140 (12% of your Rs. 9500 basic) from your salary + an equal contribution by your employer which may take Rs. 6500 as upper limit for basic

What are the limit for ESI and PF?

CONTRIBUTION

The ESI Scheme is mainly financed by contributions raised from employees covered under the

scheme and their employers, as a fixed percentage of wages. Present rates of

contribution are as under:-

(i) Employees' Contribution : 1.75 percent of wages

(ii) Employers' Contribution : 4.75 percent of wages

• Employees' earning upto Rs.100/- a day as wages are exempted from payment of their part of

contribution.

• The State Govts. bear one-eighth share of expenditure on Medical Benefit within the per capita

ceiling of Rs.1200/- per annum and any additional expenditure beyond the ceiling.

WAGE CEILING

Employees of covered units and establishments drawing wages upto Rs.15,000/- per month come

under the purview of the ESI Act, 1948 for multi-dimensional social security benefits.

Can you withdraw only pf amount leaving pension amount?

Yes. When you try to withdraw your PF, only the PF amount will be given to you. The Pension amount goes into a different scheme and hence is not part of the PF corpus that you can withdraw.

Can a company deduct provident fund from employee's salary without providing account number of respective Pf account number?

No. The moment they start deducting PF from your account, they are bound to disclose the PF account number to the employee. It is our right to know where our money is being deposited.

Is it necessary to join pf for an employee?

If your company has more than 20 permanent employees - Yes.

What are the checks and balances?

== == 1. The Supreme Court can declare a law passed by the House and Senate and signed by the President to be unconstitutional.

2. The President can veto a law passed by the House and Senate. 3. The House and Senate can override the President's veto with a 2/3 vote.

What is status of pf DL 19694?

Only the owner of the account can know the status of a PF account. you can either visit the regional epf office or check the pf account online after creating an account in the epf india website

Sample letter requesting release of money from PF account?

You cant write letters to get money from PF account. There are forms that need to be filled and procedures to be followed to withdraw money from PF account.