Pace career academy provides practical certified HR Training courses in pune-mumbai with 100% Placement from last 10yrs. Pace Career Academy operated by experienced HR Training in Pune-mumbai professionals. We provide complete practical certified HR Training courses and consultation offering weekend and weekday Pace Career Academy in Pune-mumbai. We are an ISO Certified company and also a member of Maratta chamber of commerce. We have placd352+HR Professionals in 2015-16.Our trainees are working with 152+companies.Practical training on PF,ESI, Online challans, Labour laws, statutory compliances, Recruitment ,SHRM,CTC

2.  You may know it as that annoying, elusive chunk of your monthly salary that you
aren’t able to spend. So what is it, and where does it go?
 Employee’s Provident Fund (EPF) is a retirement benefit scheme that’s available to
all salaried employees. This fund is maintained and overseen by the Employees
Provident Fund Organization of India (EPFO) and any company with over 20
employees is required by law to register with the EPFO.
 It’s a savings platform that helps employees save a fraction of their salary every
month that can be used in the event that you are rendered unable to work, or upon
retirement.
 When you start working, you and your employer both contribute 12% of your
basic salary (plus dearness allowances, if any) into your EPF account .
 The employer contribution to your EPF is tax-free, and your contribution is
tax-deductible under Section 80C of the Income Tax Act.
The Employees Provident Funds and Miscellaneous Provisions Act, 1952

3. RATES OF CONTRIBUTION
(Provident Fund is calculated from Basic Salary + DA)
Scheme Employee's
Contribution
Employer's
Contribution
Employee Provident Fund (EPF) - A/C 1 12% 3.67%
Employee Pension Scheme (EPS) - A/C
10
8.33%
Administration Charges - A/C 2 0.85%
Employee Deposit-Linked Insurance
Scheme (EDLI) - A/C 21
0.50%

4. Employees State Insurance Act, 1948
 As the name suggests, it is basically an ‘insurance’ scheme i.e. employee gets benefits
if he is sick or disabled.
 Employees who are drawing wages upto Rs. 15,000 per month come under the
purview of the ESI Act 1948 for multi dimensional social security benefits.
 The rates of contribution are:-
Employees Contribution : 1.75 % of wages
Employers Contribution : 4.75 % of wages
 Various benefits that the insured employees and their dependents are entitled to are as
follows
Medical Benefits, Sickness Benefits, Maternity Benefits, Disablement Benefits
Dependent Benefits, Other Benefits (like funeral expenses, vocational
rehabilitation, free supply of physical aids etc

5. Maharashtra Profession Tax Act, 1975
 The following states impose this levy in India - Karnataka, West Bengal, Andhra
Pradesh, Maharashtra, Tamilnadu, Gujarat, and Madhya Pradesh. It is a source of
revenue for the government.
 In Maharashtra, this duty is applicable both on individuals and companies as laid
down by the guidelines of the Maharashtra Professional Tax Act of 1975. Every
individual living in Maharashtra, involved in any business, profession, occupation or
employment is legally responsible to pay it and has to get a Certificate of Enrolment
from the Professional Authority.
 Exemptions
Person suffering from permanent physical disability.
Parents of mentally retarded child.
Parents of a child suffering from a physical disability.
Persons who have completed the age of 65 years.
Central Government Employees.

6. The Maharashtra Labour Welfare Fund Act, 1953
 Applicability
Every employee, including employee through contractor, but not a managerial
capacity or supervisor capacity drawing more than 3500/- pm.
 Contribution
Contribution is to be deducted from the salary of employees twice in a year i.e. June
& December every year.
 Penalty
The Employer has to maintain the entire record against the fund transaction failure to
which there is a penalty. If the employer is not able to produce the records or
documents stating details of the fund and employee details,
The employer may get a three months term or Rs 500/- fine or both.
For subsequent offences, six months term or fine of Rs 1000/- or both.

7. Pace Career Academy is an ISO 9001:2008 Certified company,
we are into market from last 9+yrs. We are in HR Training,
Accounts Training, Taxation Training, SAP & IT Training with
100% Placements.
We have trained and placed 12000+ professionals across industry
Our trainees are working with 152 + companies
For More Information visit
Or call on 8055505588
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About US
http://www.pacecareer.in/trainings/hr-training/

8. Thank You
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