Do companies pay exactly same amt of P.F (as employer's
Contribution )as deducted from employee's salary
Eg. employee's cont. 5000/-
employer's cont. 5000/- is it
Answers were Sorted based on User's Feedback
Answer / vinay kumar kharbanda
The employer have to pay equal amount of PF deducted which
is limited upto 12% of Basic Wages. But in addition the
employer have to pay 1.61% as administrative expenses. It
is also to be considered that the threshold limit of PF
deduction is Rs.6500/-. The excess amount of salary is to
be ignored.In present question employer have to deposit
Rs.5000/-employee cont.+Rs.5000/-employee cont.+Rs671/-as
admin.charges. So total amount to be deposited by employer
is 10671/-
Is This Answer Correct ? | 15 Yes | 1 No |
Employer contribution 12% of basic (maximum on Rs. 6500)
Emplyees Contirbution 12% of basic (Maximum on Rs. 6500)
But 1.61% extra has to paid by employer's as a Admin
charges.
Gross Amount will be deposit in PF.
1. Employer's Of Rs. 780+105 (12%+1.61%on 6500/-)
2. Employee's Of Rs. 780 (12% on 6500/-
Total 1665/-
Is This Answer Correct ? | 10 Yes | 1 No |
Accourding To Answer No 3 by Mr. Vinay Kumar Kharbanda
Employer's contribution 5000/- on Rs. 41667/-
Employee's Contribution 5000/- on Rss. 41667/-
Admin Pay by Employer's 1.61% - on Rs. 41667/- = 671
Total Payable by Employer's = 10671/-
Is This Answer Correct ? | 4 Yes | 1 No |
Answer / vinay kumar kharbanda
In my answer to PF question wrongly entered as employee
contribution twice which is to be read one part of employer
and other of employee contribution.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / vinay valmiki
how do get this figure of Rs.41667/- kindly explain
Is This Answer Correct ? | 1 Yes | 0 No |
Suppose Basic Salary Rs. 100
PF on 100 rs.@12% 12
when we paid 12 rs. on= 100
What will be on Rs. 5000*100 / 12= 41667
Is This Answer Correct ? | 5 Yes | 4 No |
Answer / dhokchaule kishor
No, Employer only liable to contribute 12% of the basic
salary of employee plus admin charges, not equal to
employees contribution,
If salary is Rs-5000/-
Employee contribution-Rs.600/-
employer contribution-Rs.600/-+ admin charges
in this case if employee contribute 18%,i.e.Rs.900/- then
employer not liable to contribute same amount his share is
only 12% i.e. Rs.600/-
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / vinay kumar kharbanda
I am agree with Shishu Pal Yadav becasue when we think
about only single employee the maximum amount payable by
employer including employee contribution is Rs.1665/-. When
we think about more than one employee then it comes to
Rs.10671/-
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / vinay valmiki
shishu pal has actually confused what is this 780?
take simple eg of Rs.5000/- & max limit & then explain
Mr. Kharbanda was more clear
Is This Answer Correct ? | 1 Yes | 1 No |
Answer / jassi
Clarification with an Example:Provident Fund
Assuming the (Basic + DA + Food Allowances)= Rs.6500
Employee's Contribution:12% of 6500 = Rs 780
+
Employer's Contribution: 12% of 6500= Rs 780 + 1.61% of 6500=105
So employers contribution= 780+105= 885
Hence the total contribution in PF Account= Emplyoee + Employer
780+885=1665
Is This Answer Correct ? | 0 Yes | 0 No |
TDS rate for Building Maintenance ????
Igave a cheque of Rs 25000/- to a Professional. Do I deduct TDS on Rs 25000/, then after three months I further pay the same Professional Rs 40000/-.Have I to pay Tds on 25000 Or Rs 65000/- or only Rs 40000/-,Have I to pay interest on delayed payment for Rs 25000/-?
we are the manufacture of leather shoes, we send the shoe sample to some parties , can it we shown in RG1 Register , if shown then , where ? if not then why ?
What is the present Central sales tax rate in India? Also let me know the maxium and minium sales tax rate in India.
34 Answers ABC, Defence Accounts Department, New Trends, Unique Software Systems,
pls define central sales tax , how will show in invoice a cst rate on interstate sales with-out c -form and against c form . clear it
How many types of Tax are ?
is a pvt ltd. comp. can give advance against salary to his director.
0 Answers AXA Business Services,
what rate is entry tax is it same for all states
What diffrance between TDS & TCS.
I want to know whether entry tax is applicable for capital goods imported ? and is it applicable if imported capital goods purchased from dealer?
What is the Special provision for computing profits and gains of business of civil construction
3 Answers GET Engineering Construction,
Sir, An Awarder make part payment to the Contractor after deducting retention money @5%. The retention money will be paid to the contractor when the contract work is fully completed. Here my question is,when the Awarder has to deduct tax on retention money, at the time of deducting the retention money or at the time of payment of retention money when the contract is completed? Here "Tax" means Income Tax, VAT, Service Tax etc. Please reply Thanking You