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Question
CAN ANY BODY ASK ME CLASSIFICATION OF P.F
RS 930 /- DEDUCTION FORM MY SALARY AS A P.F SO HOW MANY RS
CREDITED IN MY ACCOUNT ( GIVE IN DETAIL )
 Question Submitted By :: RAKESHPATEL
I also faced this Question!!     Rank Answer Posted By  
 
  Re: CAN ANY BODY ASK ME CLASSIFICATION OF P.F RS 930 /- DEDUCTION FORM MY SALARY AS A P.F SO HOW MANY RS CREDITED IN MY ACCOUNT ( GIVE IN DETAIL )
Answer
# 1
Pf will be deducted @ 12% on your basic salary every month .

for Ex if your salary is 20000/-(assume that your basic 
salary = 10000, hra =6000, other allowance = 4000/-)

on basic salary 10000/- your PF will be deducted 1200/- 
@12& and same is going to deposit in your PF account with 
Govt along with company contribution of same amount (i.e 
1200/- yours and 1200/- company's) totall 2400/- would be 
your monthly saving with PF account.

at the time of resign or retirment you will get the total 
amount of savings. if your services are 10 yrs more you can 
get the pension (out of 12% 8.33 will go to pension account 
and 3.27% will go to pF account from companies 
contribution).

if you wihdraw your PF amount within 5 years of your 
service you will get total amount of PF after deducting the 
TDS as per the ACT.
 
Is This Answer Correct ?    1 Yes 1 No
Dj
 
  Re: CAN ANY BODY ASK ME CLASSIFICATION OF P.F RS 930 /- DEDUCTION FORM MY SALARY AS A P.F SO HOW MANY RS CREDITED IN MY ACCOUNT ( GIVE IN DETAIL )
Answer
# 2
As per PF rules, It will be deducted @12% on Earning of 
Basic salary.

with reference the above question Rs.930/- has been 
deducted in your salary. that means your Earning of basic 
Salary should be Rs.7750/- (Rs.7750@12%= Rs.930/- PF)

Provident Fund (PF) classified in two types.
i) Employees Contribution :-  It will be deducted on 
Employees earning of basic salary and same amount is 
deposited in Employees PF account.

ii)Employers Contribution:-  Employer will contribute the 
PF amount for his employees. which amount equal to 
Employees contribution(12% on earning of Basic Salary)

So, Total credit of your PF account should as given below
 
   i) Employees Contribution 
(PF - deduction on your salary)       Rs. 930.00
  ii) Employers Contribution          Rs. 930.00
                                      ----------
             Total                    Rs.1860.00
                                      ==========
 
Is This Answer Correct ?    0 Yes 0 No
Raghunath
 
 
 

 
 
 
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