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HR Forum topics Started by Sreegith Nair

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21-01-2011
By: Sreegith

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11-01-2011
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11-01-2011
By: Sreegith

HR Forum Replies by Sreegith Nair

hey no one her can go head and post or answer to this relevant question
Replied to "payroll" in Grievance Management!!
12-01-2011.
hi santosh i hope that my answer is correct....
F.T.E report ---- it is Full Time Equivalent report........do a Google search u will find complete details
hi chitra thanks for the information.....please tell me how is interest calculated if i am working from year jan 97 to jan 2011.....plzz help me with the calculation......and is it simple interest or complex interest....waiting for ur reply
hi sudhakar if ur looking for calculation regarding employee pf and employer pf.....then check this out


Note :PF always calculated on BASIC + DA
Total PF contribution : 25.61%

Employers Contribution :12% (3.67% PF +8.33%Pension) +1.61%Administrative charges (1.10% Adm charges +.50 % EDLIF Charges) =13.61%

Note: Pension value 8.33% is always constant whther PF value can be variable depending on the Basic & DA
Pls study following cases:

Case :1 if Basic + Da = 6500 then then contri wil be like ths Pension 8.33% ( 541) and PF value wil be (239)


Case II 1 if Basic + Da > 6500 then then contri wil be like ths Pension 8.33 %( constant value 541) and PF will be : exess amount - 541 as exp IF Basic + DA is 12000/- then it wil be like ths Pension will be 541/- and PF will be 899/-
( cal.: 12000*12% -541 = 899/-)

Case III : if Basic + Da < 6500 then then contri wil be like ths Pension 8.33% and PF 3.67% of basic +DA
Exp : if basic is 5500/- then Pension wil be 5500*8.33% =458 and PF will be 5500*3.67% = 202/-

Employess Contribution:12% goes to PF amount only.

PF Calculation Sheet:
1.Mention your location name if existing
2.No of empls elidgible for PF
3.PF salary ths is Basic + DA amount
4.Emps contri 12% fix value
5.Emplrs contri for PF Variable ( calculation has defined above)
6.Emplrs contri 8.33% fix value
7.PF>6500 means Basic +DA >6500 ( See case II)

Some other useful info regarding PF:
Form No. Purpose

13 (revised) For transferring the Provident Fund account of a member from one establishment another establishment covered under the act / scheme


19 To be submitted by a member to withdraw his Provident Fund dues on leaving service/retirement/termination.
10-C For claiming - Refund of Employer share.( with form no.19)
10-D To be submitted by the first claimant i.e.- member or - widow/widower or- orphan nominee as the case may be
31 For the use of Provident Fund members to avail advances / withdrawals as provided in the scheme
Rate of Interest:8.5%

i hope this will work.....

Sreegith

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