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Hi, I was a Teacher by profession for 8 years and last 1 year I worked as AI Product Associate. I basically write content for python, Data Science and Artificial intelligence with some hands on projects. I want to grow and find more opportunities. Can anyone suggest what is best for me? My current package is above 7 lakh.
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Company contribution (600 in your case) is split between EPS and PF. Fixed amount is required to go towards EPS. So PF is bit low and will not match with your contribution.
Right i was wondering why was it not matching with my pf deduction
For details specific to PF contributions, do login to your UAN account on the EPFO portal as well. You will find both contributions made separately, for each month.
But again.. the pf contributed by employee and employer should be same that is 12% of base salary right?
Yes Employee Contribution is equal to employer contribution.
Employee Contribution is a "deduction", employer contribution is not.
Go to the ADP AC Payroll portal, myForms, Employee Pay History, Select the date range. See the details.
You should get a better understanding.
Basically, your Employer's PF contribution is beyond your net pay that you will see on your payslip.
Employer PF contribution is not shown in payslip. Of course it is a part of CTC.
I remember employer contribution being divided into two EPF 8.67 n EPS 3.33%. so total is 12% equal to your contribution.
Employer's contribution is slightly low due to the tax deduction