Dear All,
It has come to be known that the PF Basic + DA limit of 6500.00 is going to be enhanced to 15000.00 by an amendment of the PF act. Does anybody have any clue about this? Please revert.
From India, Bangalore
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It has come to be known that the PF Basic + DA limit of 6500.00 is going to be enhanced to 15000.00 by an amendment of the PF act. Does anybody have any clue about this? Please revert.
From India, Bangalore
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Dear All, Still this is in proposal stage. Notification to this effect yet to come & I believe this will take sometime or may be enhanced at 10000/- instead of 15000/-.
From India, Mumbai
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From India, Mumbai
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Dear All,
On 12th June 2009, the Government of India constituted an Expert Committee on Employees' Pension Scheme - 1995 to review the existing pension scheme. The committee submitted its recommendations to the Parliament on 5th August 2010 and subsequently approved by the Central Board of Trustees (EPF) two months ago (according to newspaper reports).
One of the above recommendations is to enhance the ceiling salary limit of EPF from Rs. 6,500 to 10,000.
Abbas.P.S
From India, Bangalore
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530On 12th June 2009, the Government of India constituted an Expert Committee on Employees' Pension Scheme - 1995 to review the existing pension scheme. The committee submitted its recommendations to the Parliament on 5th August 2010 and subsequently approved by the Central Board of Trustees (EPF) two months ago (according to newspaper reports).
One of the above recommendations is to enhance the ceiling salary limit of EPF from Rs. 6,500 to 10,000.
Abbas.P.S
From India, Bangalore
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Dear All,
I want to know how to calculate Grossing up. For example, if the take-home pay is $14,500 after deductions for PF, ESI, PT, LWF, and IT, what would be the CTC amount? Please help me with this calculation.
I am eagerly awaiting your reply.
Manjunath Panchal
+91 9743481431
From India, Bangalore
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I want to know how to calculate Grossing up. For example, if the take-home pay is $14,500 after deductions for PF, ESI, PT, LWF, and IT, what would be the CTC amount? Please help me with this calculation.
I am eagerly awaiting your reply.
Manjunath Panchal
+91 9743481431
From India, Bangalore
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Dear All,
Over the past couple of years, we have witnessed a lot of changes in the salary structure, particularly in the case of ESI. Looking ahead, we can anticipate the PF slab to increase up to Rs 10,000/-. Consequently, the maximum contribution could reach up to Rs 1200 per month (Employer's Contribution). This is an excellent initiative to save money for the future, especially with the revised PF interest rate of 9.5%.
Cordially,
Subin Chandran
From India, Delhi
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Over the past couple of years, we have witnessed a lot of changes in the salary structure, particularly in the case of ESI. Looking ahead, we can anticipate the PF slab to increase up to Rs 10,000/-. Consequently, the maximum contribution could reach up to Rs 1200 per month (Employer's Contribution). This is an excellent initiative to save money for the future, especially with the revised PF interest rate of 9.5%.
Cordially,
Subin Chandran
From India, Delhi
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Dear All,
Kindly note - "PF CONTRIBUTION MAY COVER HOUSE RENT & CONVEYANCE ALLOWANCE."
The Madhya Pradesh High Court's ruling that employee benefits, such as house rent and conveyance allowances, should be taken into account while computing the employee provident fund contributions may soon be implemented all over the country. Central Provident Fund Commissioner Samirendra Chatterjee said the ruling was conveyed to EPF offices in the state, but he said it could be implemented all over the country in consultation with the Ministry of Labour. The ruling marks a shift from the present arrangement where the employees have to contribute 12% of their basic salaries while the employers have to match the contributions. The new order will mean a higher retirement corpus for employees, though it would result in a cut in their take-home package. However, it will also bring an additional burden on the companies.
Source: Hindustan Times
Cordially,
Subin Chandran
From India, Delhi
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Kindly note - "PF CONTRIBUTION MAY COVER HOUSE RENT & CONVEYANCE ALLOWANCE."
The Madhya Pradesh High Court's ruling that employee benefits, such as house rent and conveyance allowances, should be taken into account while computing the employee provident fund contributions may soon be implemented all over the country. Central Provident Fund Commissioner Samirendra Chatterjee said the ruling was conveyed to EPF offices in the state, but he said it could be implemented all over the country in consultation with the Ministry of Labour. The ruling marks a shift from the present arrangement where the employees have to contribute 12% of their basic salaries while the employers have to match the contributions. The new order will mean a higher retirement corpus for employees, though it would result in a cut in their take-home package. However, it will also bring an additional burden on the companies.
Source: Hindustan Times
Cordially,
Subin Chandran
From India, Delhi
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EPF-Circular-da ted-23-May-2011 -Splitting-of-M inimum-Wages-fo r-the-Purpose-o f-PF-Contributi on-Not.pdf