Hi All, Can you please help me regarding the PF deduction. Are there any changes required on GreytHR portal persisting to Employer PF contribution? Its paid by the Employer. Where to show this benefit to employees?
With regard to PF contribution, there is a component in the deduction section called ‘PF’ which shows the PF deducted from employees salary and paid to PF dept.
With respect to employer contribution usually it’s not shown in the Payslips… But they can be show in CTC payslips - if required.
This would require a configuration Ayesha! Our team would be helpful in this regard.
With respect to new PF rules of 10% or 12% we are working on it too. In a couple of days you find that too.
Thanks for the reply Dinesh. If PF employer contribution is shown in CTC payslips - then it is part of CTC rite?
Ha ha… Good one!
Employer PF is an amount that needs to be paid for employees on top of the salary - as per the concepts.
But as days passed we added them into CTC calculations and showed employees that it’s a part of CTC.
But the key difference of why this cannot be added in Monthly Payslip as addition is, it’s not paid to him in his bank, it’s a part of benefits indirectly via PF dept he will get it in future.
So adding in monthly payslip is not done and added in CTC as a ‘benefits’ and cost of the same in incorporated in CTC.
Thanks Dinesh for helping me here.