Rate of Provident Fund Deduction from Salary

Why Provident Fund ?

Considering the fact that all employees, part timers and even the people hired by the contractors should have some money to their credit to keep things going smoothly even in the rainy days, the Indian government decided upon the statute that it would be absolutely mandatory for all the employees to have a mandatory deduction from their salary. The rate of deduction might vary from organization to organization.

The salary structures between the companies are not uniform in nature. Thus the amounts of deductions are also not similar and uniform across all the companies. There are organizations that would pay their employees salary components like the Dearness allowance (DA) and retaining allowance along with the basic salary. Thus in this case there would be a deduction of 10% in case the salary of the employee comprises of basic, DA and retaining allowance.

Rates of Provident fund deduction from salary

But in case there is no Dearness allowance (DA) and retaining allowance along with the basic salary of the employee. Then in this case there would be only a 12% deduction on the basic salary of the person. There would be an equal contribution from the employee at the rate of 10% or 12% as the case may be and would be deposited to the Provident fund account.

These deposits would also attract a interest rate of 8.5% per annum (the percentage may vary from year to year). There are tax benefits that are allowed by the Indian government on the deductions from the employee’s salary.

The employee may choose to have a higher contribution than the mandatory rate of 10% or 12% as the case may, up to a maximum of 100% of the basic salary drawn by the person. But under such a situation the liability of the employer would not be enhanced. It would still stay at the mandatory rate of 10% or 12% as the case may be.

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50% 20% 15% 10% 5% 100% Basic HRA Conve Med CCA Total 5,000 2,000 1,500 1,000 500 10,000 For the above salory particulars can you please send the details of provident fund calculation.I need employee and employer portion caculation

IN OUR COMPANY PF DEDUCTION IS FIXED TO RS 780/- MONTHLY, WITHOUT CONSIDERING ANY PERCENTAGE OF OUR BASIC SALARY KINDLY GUIDE ME,IS IT AS PER THE RULE.

Plese Guid me about same probleme

yes

If deduction of Rs. 780/- is as per rule. May i please request you to send me some supporting on my email address nitin.gawli@efgindia.com

my company is 3 yr old consultancy private ltd company and till date we have not registered with pf. how should i proceed with the process and i have around 30 employees who are drawing in 5 digits only. can anyone explain the total process. regards

good

Is there any standard procedure fixed by the govt tobiffercate the salary into different components? In our case, the employer is considering 40% of our gross salary as basic. we do not have any DA. remaining 60 % is split into 30% under HRA and 30% under CCA. Some Inspetor have approached the mgmt and demanded to fix the basic as 60% of the gross sal. in that case our deduction will be increased. The mgmt is ready to contribute their share as per the rules but we were not willing to have 60% as basic, because our salaries will not be enough to survive for all. Kindly analyse this situation and let us know what should be the emicable %age of the salary to be the basic.

employee to take dection for employee & employeer contribution?

If deduction of Rs. 780/- is as per rule. May i please request you to send me some supporting on my email address pavidn@gmail.com

most of companis deduct pf on one cut of limit of the salary this deduction on Basic+da =6500 x 12%,of your total salary is higher than 6500.00 then 6500.00 x 12%

Hi, i want to PF rules 2010 and how many % deduction of salary pf. so, how is advice for me. shripad.

PF employee deduction rate employer deduction rate ple send my mail

12% employee rate and 13% employer rate

OUR COMPANY PF DEDUCTION IS FIXED TO RS 780/- MONTHLY, WITHOUT CONSIDERING ANY PERCENTAGE OF OUR BASIC SALARY KINDLY GUIDE ME,IS IT AS PER THE RULE. Regards, Chinmay.

OUR COMPANY PF DEDUCTION IS FIXED TO RS 780/- MONTHLY, WITHOUT CONSIDERING ANY PERCENTAGE OF OUR BASIC SALARY KINDLY GUIDE ME,IS IT AS PER THE RULE.

i want to know pf employee or employer current rate please send me

Employee rate is 12% on basic Employeer rate is at 13%

10% or 12%

is this true? the PF will be deducted in GROSS SALARY not in Basic Salary? Anyone ? By the way i am foreigner working here in bangalore.

A COMPANY DEDUCTED PF ONLY FIXED TO RS 780/- MONTHLY WITHOUT CONSIDERING ANY PERCENTAGE OF OUR BASIC SALARY OR ANY ALLOWANCE KINDLY GUIDE ME WHAT IS THE PERCENTAGE OF PF AS PER THE ACT OR RULE.

according to the provision of the concerned Act your employer is mandatorily required to deduct minimum 10% of your salary or 12% also if you are not getting DA and RA.

No it is wrong as per factort act 12% is employee contribution & 13% is employeer contrubtion per month.

A COMPANY DEDUCTED PF ONLY FIXED TO RS 780/- MONTHLY WITHOUT CONSIDERING ANY PERCENTAGE OF OUR BASIC SALARY OR ANY ALLOWANCE KINDLY GUIDE ME WHAT IS THE PERCENTAGE OF PF AS PER THE ACT OR RULE.

I WANT ASK THE Q. IS WHAT IS BASIC RATE PF IN UP?

If deduction of Rs. 780/- is as per rule. May i please request you to send me some supporting on my email address jayvantsir@gmail.com

Dear sir If Basic of Empolyee is 34560 and P.F deduction is 6013 and HRA-10368,Transport Allowence-5000,Hardship Allowance-15552,Coal Arrier-10951 Please Tell me What is the rate of P.F calcullate and How to Calcullate

my salary 6000 so please answermy pf,HRA,DA,deduction per month.

Hey friends I have given my answer below

A COMPANY DEDUCTED PF ONLY FIXED TO RS 780/- MONTHLY WITHOUT CONSIDERING ANY PERCENTAGE OF OUR BASIC SALARY OR ANY ALLOWANCE KINDLY GUIDE ME WHAT IS THE PERCENTAGE OF PF AS PER THE ACT OR RULE.

It is correct as 12% criteria is the maximum side and minimum is Rs. 780

A COMPANY DEDUCTED PF ONLY FIXED TO RS 780/- MONTHLY WITHOUT CONSIDERING ANY PERCENTAGE OF OUR BASIC SALARY OR ANY ALLOWANCE KINDLY GUIDE ME WHAT IS THE PERCENTAGE OF PF AS PER THE ACT OR RULE.

kindly guide me what is the percentage of pf as per act or rule

without asking my management has made a fixed pf of rs 780/monthly.Before it was 12 percentage of basic salary and da.

Can National Bank Employee gets Provident Fund, if yes then which act, please clarify. Thanks & regards Susanta

Can national bank employee gets provident fund, if yes then which act.

hello sir, i want to know if employee wants cut more than 10% for pf by ownself. is it possible to do this? suppose basic is 6000 thousand and pf rate is 10% means pf will cut 600 per month but any employee wants to cut for pf more than 10% , it may be 15% to 50% , is it possible?

Hello, I am working in LLP company from last 1.5 year in Pune. my month salary is 5000. I want to know is Professional Tax will be deducted from my salary or should not ? Please reply Thanks

I have a firm alongwith 50 workers and I am PF and ESIC registration and we are paying regular payment through returns. Now will give each worker as a attendance bonus, performance bonus, production bonus regular basis apart from salary. So, please comment this whether ESI and PF attract on the amount what we charge. Please reply. Regards Anil Bailurkar

Why employer has contribut 8.33% of pf from basic salary.

I want to check my PF balance but your all sites is showing ERRORs. So please tell me how to i will check my pf balance?

you can Download EPF Apps From Play Store and Check Via login 12 Digit UIN number And In Pay Roll Registed contact number. Then Exact Amount You can Check From there.

Karmchary ke Dwara GPF ki rashi kitwane hetu koi seema he ya fir karmchary apni swecha se jyada katwa sakta he.

i want increase my pf deduction right company deducting 12%on 15000, but i want to increase, may i know what is the maximum percentage to deduct example salary is 50000/- , then maximum deduction howmuch?

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