Payroll - Calculations/Practices in Provident Fund (India)

Course details

Course Overview:

A number of labour laws are applicable to a business organization. Therefore, each organization needs to understand such laws so that they can be complied with in all aspects of the organization. This course gives you a firm grounding in both the theory and practical application of Employees Provident Fund and Miscellaneous Provisions Act, 1952.

We will cover topics such as Understanding the meaning of Payroll, Various stages in Payroll Process, Pay Cycle, Applicability and Coverage of the Act, Employees Pension Scheme (EPS), Monthly workings under PF and Pension, PF & EDLI Administrative charges and so on.

Additionally, you will study typical cases in Provident Fund and Pension calculations. Finally, the course will walk you through 19 different practical scenarios at an organization.

Provident Fund course is one of the six courses of "Payroll - Compliances and Management".

This course on Provident Fund, a retirement benefit, gives insights on:

• The management of payroll of the employees
• Explains various amendments / developments in this field such as notification issued in  March 2017 amending the rate of Administrative charges to 0.65%.
• Covers both the compliances and practical aspects that are highly useful while processing employees' salary. 
• Acts as a guide for those handling Payroll function and thereby facilitate the processing of salary on time.

Upon successful completion of this course, you will be able to:

• Comprehend all the nuances of Provident Fund.
• Independently handle the deductions or workings towards Provident Fund from the monthly salary of the employees under various possible circumstances.
• Develop an in-depth understanding of typical scenarios (or cases) under PF that you would come across while handling the PF calculations. 

Having shared my work experience in this course I'd say this course shall accelerate career growth for freshers and mid level executives handling Payroll either in Human Resources or in Accounts & Finance. 

What will you gain from this course?

Understand the Compliances under Provident Fund.

The ability to calculate deductions towards Provident Fund and Pension.

Cases covered shall enable you to handle similar scenarios at work.

The ability to handle payroll tasks independently.

Pre-requisites:

This course shall start with the fundamentals.

However skills required include,

Basics in mathematics such as Addition, Subtraction, Multiplication and Division.

No prior knowledge or understanding in Law, Business or Finance is required.