Difference between revisions of "PF"
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| + | == '''PF (Provident Fund)''' == | ||
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As compulsory, government-managed retirement savings scheme, Provident Fund enables employees to contribute a part of their savings each month towards their pension fund. Over time, this amount gets accrued and can be accessed as a lump sum amount, at the end of their employment or at retirement. The Provident Fund money is a huge amount that helps you grow your retirement corpus. | As compulsory, government-managed retirement savings scheme, Provident Fund enables employees to contribute a part of their savings each month towards their pension fund. Over time, this amount gets accrued and can be accessed as a lump sum amount, at the end of their employment or at retirement. The Provident Fund money is a huge amount that helps you grow your retirement corpus. | ||
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# Provident Fund A/c Details - '''Salary » Provident Fund » Provident Fund A/C Details''' | # Provident Fund A/c Details - '''Salary » Provident Fund » Provident Fund A/C Details''' | ||
# Provident Fund Calculation - '''Salary » Provident Fund » Provident Fund Calculation''' | # Provident Fund Calculation - '''Salary » Provident Fund » Provident Fund Calculation''' | ||
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== '''Inputs Needed''' == | == '''Inputs Needed''' == | ||
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* Provident Fund Account details helps to add / edit provident fund account details for individual employee. | * Provident Fund Account details helps to add / edit provident fund account details for individual employee. | ||
* Systems also provides report of PF account details of relieved employees. | * Systems also provides report of PF account details of relieved employees. | ||
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| + | == '''Step by Step''' == | ||
| + | # Monthly Provident Fund | ||
| + | # Provident Fund A/c Details | ||
| + | # Provident Fund Calculation | ||
Latest revision as of 12:06, 30 March 2020
PF (Provident Fund)
As compulsory, government-managed retirement savings scheme, Provident Fund enables employees to contribute a part of their savings each month towards their pension fund. Over time, this amount gets accrued and can be accessed as a lump sum amount, at the end of their employment or at retirement. The Provident Fund money is a huge amount that helps you grow your retirement corpus.
PF is the main scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 . The scheme is managed under the aegis of Employees' Provident Fund Organization (EPFO)
Our system allows to view add / edit details of the employees department wise month wise.
Roles
Finance Admin
Path
- Monthly Provident Fund - Salary » Provident Fund » Monthly Provident Fund
- Provident Fund A/c Details - Salary » Provident Fund » Provident Fund A/C Details
- Provident Fund Calculation - Salary » Provident Fund » Provident Fund Calculation
Inputs Needed
- Salary for the month should be published.
- Employee Joining date must be updated correctly in the service book.
- Employees date of birth must be updated.
Functionality
- Monthly Provident Fund Report helps to understand employee wise PF deduction for a particular month.
- Employee wise EPS (Employee Pension Scheme) amount can be calculated by Finance Admin.
- ECR (Electronic Challan cum Return) report.
- PF challan can be printed for individual employees as well as department wise.
- Provident Fund Account details helps to add / edit provident fund account details for individual employee.
- Systems also provides report of PF account details of relieved employees.
Step by Step
- Monthly Provident Fund
- Provident Fund A/c Details
- Provident Fund Calculation
