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HR Zone » Conflict & Labour Management » IR Provident fund details

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IR Provident fund details
Selvi
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Posted 01-12-2011Reply

Dear sir/mam,



Here i attach provident fund act ppt according to my knowledge if useful take it and help me to modify with relisitc example .....



if you have deduction in the salary for pf, and pension mention it how now days the company follows .....

Attached Files
Provident Fund Act.ppt (1.0 MB, 4 views)
Ragul
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  Rated +2 | Posted 01-12-2011

Dear madam,

All legal requirements PF, TDS, ESIC , PTax are covered. Most of the legal calculations are parameterized. Also regular upgrades are provided for changes in the laws.

Federe
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  Rated +2 | Posted 02-12-2011

madam,

Provident fund consists of contributions made by an employee during the time he has worked along with an equal contribution from the employer. It is deducted as a certain percentage of basic salary. This calculator will help you in estimating the balance in your PF or EPF (Employee Provident Fund) amount that shall be accumulated by you at the time of retirement and help you answer the following questions:

* How much money do you need at the time of retirement to meet your monthly expenses?
* How much money do you need at the time of retirement to meet your lump sum expenses?
* How much money will your PF account have when you retire?
* What percentage of your total retirement needs is met by PF?

Nansyh3
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  Rated +1 | Posted 02-12-2011

madam.

How the Employees' Provident Fund Scheme works:
As per amendment-dated 22.9.1997 in the Act, both the employees and employer contribute to the fund at the rate of 12% of the basic wages, dearness allowance and retaining allowance, if any, payable to employees per month. The rate of contribution is 10% in the case of following establishments:

*

Any covered establishment with less then 20 employees, for establishments cover prior to 22.9.97.
*

Any sick industrial company as defined in clause (O) of Sub-Section (1) of Section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 and which has been declared as such by the Board for Industrial and Financial Reconstruction,
*

Any establishment which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth and
*

Any establishment engaged in manufacturing of (a) jute (b) Breed (d) coir and (e) Guar gum Industries/ Factories. The contribution under the Employees' Provident Fund Scheme by the employee and employer

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