Posted by: Pinal Mehta on: November 19, 2008
FAQ’s on Employee Provident Fund Q1) What is the Contribution for Provident Fund both by the Employer & Employee ? Ans : The Employee contributes 12% of his /her Basic Salary & the same amount is contributed by the Employer. Q2) Is it Compulsory for the all the employees to contribute to the Provident Fund [...]
Posted by: Pinal Mehta on: November 15, 2008
The Employees� Provident Funds and Miscellaneous Provisions Act, provides for compulsory contributory fund for the future of an employee after his retirement or for his dependents in case of his early death. It extends to the whole of India except the State of Jammu and Kashmir and is applicable to: every factory engaged in any [...]
Posted by: Pinal Mehta on: November 15, 2008
Food allowance not to be `basic wage’ for provident fund contributions Food allowance cannot be treated as cash value for food concession. Basic wage means all emoluments which are earned by an employee while on duty or on leave or on holidays with wages in either case in accordance with the terms of the contract [...]
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