What is the due date for payment of PF for April 2020?
The EPFO vide notification dated 15th April 2020 had extended the due date for payment of contributions and administrative charges/Inspection charges due for the wage month of March 2020 from 15th April 2020 to 15th May 2020.
Is PF payment date extended?
Employees’ Provident Fund Organization (EPFO)vide circular No. WSU/15(1)2019/ATR/529 dated 15th June, 2021 extended the last date to seed the Aadhaar number with the universal account number (UAN) for filing electronic challan-cum-returns till September 1, 2021.
What if PF is deposited late?
Late Payment Penalty in EPF Interest for late payment: Under Section 7Q an interest of 12% per annum, is levied on the employer every day in case of failure to deposit the EPF contribution before the deadline.
What is the due date for payment of ESI and PF?
The ESI Contribution payment last date is 15th of every month.
What is the due date of ESI payment?
Now, the due date for payment of ESI contribution is the 15th day (instead of the 21st day) after the end of the month and is effective for contribution payable for the month of June 2017 onwards.
What is the salary limit for ESI?
Rs.21,000
Is ESI calculated on basic salary?
Employees’ State Insurance Scheme will be calculated on the gross salary (Basic and LOP dependent allowances) upto ₹21,000 . If Gross is above ₹21,000 ESI will be constant.
Is PF mandatory for salary above 15000?
As per the rules, in EPF, employee whose ‘pay’ is more than Rs 15,000 a month at the time of joining, is not eligible and is called non-eligible employee. Employees drawing less than Rs 15,000 per month have to mandatorily become members of the EPF.
What is PF salary limit?
Rs. 15,000
How is PF salary calculated?
How to calculate EPF? Salary = Basic in private companies. The EPF contribution is usually 12% of the salary. All of this adds up to Rs 4,800, which is deposited monthly as part of the EPF.
On which salary PF is deducted?
Apparently, Bharatiya Mazdoor Sangh (BMS) has urged the government not to deduct PF of those persons whose monthly salary is Rs 15,000. They said the deduction as per Employees Provident Fund (EPF) should be done for those persons receiving Rs 21,000 as monthly salary.
Is PF calculated on gross salary?
In most cases, for those working in the private sector, it’s the basic salary on which the contribution is computed. For instance, if your basic monthly salary is Rs. 30,000, then contribution by you and your employer would be Rs. 3,600 each (12% of basic).
How is PF basic calculated?
EPF contribution is divided into 2 parts. – If you are a man, you must contribute 10% or 12% of your basic salary. – In case you are a new woman employee, it is 8% of your basic salary for the first 3 years. Thereafter, it becomes 10% or 12% of your basic salary.
What is new PF rules?
PF New Rules 2021: From today onward employers must ensure that employees link their Aadhaar cards with their PF accounts. If the linking between Aadhaar cards and PF accounts is not completed, then employer’s contribution of PF amount will be stopped from depositing into the employee’s PF account.
How much percentage is PF of basic salary?
Based on Basic salary: Generally, 12 per cent of Basic Salary goes into the PF account each month. So, if your monthly Basic Salary is Rs nearly 1.75 lakh ( just the basic salary and not your total monthly income), your monthly contribution is nearly Rs 20833, which is Rs 2.5 lakh in a year.
How is PF calculated in CTC?
Employer Provident fund/EPF or Provident Fund You can check your balance here. Hence, 12% of the basic salary gets contributed by the employee and another 12% by the employer.
What is CTC salary?
Cost to Company or CTC as it is commonly called, is the cost a company incurs when hiring an employee. CTC involves a number of other elements and is cumulative of House Rent Allowance (HRA), Provident Fund (PF), and Medical Insurance among other allowances which are added to the basic salary.
What is difference between CTC and in-hand salary?
In-hand Salary = Gross Salary – Income Tax -Professional Tax The difference between CTC and in-hand salary are the various deductions that occur at the time of payout. The take-home salary can be increased by proper tax planning and avoiding any income tax deductions.
How can I check my CTC hand salary?
How to Calculate In-hand salary from CTC
- Calculate Gross Salary by deducting EPF and Gratuity from the CTC.
- Calculate the taxable income by making the required deductions from the total income.
- Income tax is calculated by adding the respective slab rate on calculated taxable income.
- Finally, calculate the in-hand salary.
What is your current CTC salary per month?
It is the total money that a particular company spends on you or it is your gross salary. Current CTC:- it’s the amount of money that your present company gives you. Example:- CTC of ₹500000 p.a. mean this is the whole amount that your present company is giving you per year. This include your salary+ benefits.