Payroll - Calculations/Practices in Provident Fund (India)
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Payroll - Calculations/Practices in Provident Fund (India)

Covers the relevant portions in PF law, practical aspects in PF workings and typical cases in Provident Fund
0.0 (0 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
2 students enrolled
Created by Perfect Tax
Last updated 7/2017
English
Current price: $10 Original price: $20 Discount: 50% off
5 hours left at this price!
30-Day Money-Back Guarantee
Includes:
  • 2 hours on-demand video
  • 7 Supplemental Resources
  • 2 Practice Tests
  • Full lifetime access
  • Access on mobile and TV
  • Assignments
  • Certificate of Completion
What Will I Learn?
  • 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.
View Curriculum
Requirements
  • 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.
Description

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.





Who is the target audience?
  • In general, this course shall be useful for - Managers, Senior Executives, Entry-level employees working in Human Resources and Payroll Processing, Accounts and Finance Department, Labour Law Compliances Division
  • ERP Implementers to understand the practices in Payroll.
  • Traders and Businessmen.
  • Labour Law Practioners.
  • Students, recent graduates or anyone seeking a fair understanding of the practices followed in Labour laws
Compare to Other Accounting Courses
Curriculum For This Course
60 Lectures
01:48:10
+
Knowing Payroll
6 Lectures 16:44

Meaning of Payroll and Salary Register Part II
04:45

Various Components of Salary
06:02

Deductions (i) Towards Retiral Components (ii) Under Various laws
02:36

Hierarchy of the Payroll function in the Organization Structure
00:52

Meaning of the term "Off Payroll"
00:59
+
Payroll Process
2 Lectures 09:56

Stages in Payroll Process (i.Attendance ii. Compliances iii. Six routine tasks)
06:04
+
Pay Cycle
1 Lecture 03:28
Meaning of Pay Cycle (including three typical cases)
03:28

Pay Cycle
5 questions
+
Employees Provident Fund & Misc. Provisions Act, 1952
3 Lectures 04:21

Purpose of Employees Provident Fund & Misc. Provisions Act, 1952
00:42

Three Schemes under EPF & MP Act, 1952 (i) EPF Scheme (ii) EPS Scheme (iii) EDLI
02:40

Employees Provident Fund & Misc. Provisions Act, 1952
4 questions
+
Applicability of the Act
1 Lecture 00:54
Applicability to a Unit (i) Mandatorily applicable (ii) Voluntary coverage
00:54
+
Coverage of Employees under the Act
3 Lectures 04:14
(a) Meaning of Salary (b) Employees mandatorily covered (c) Employees exempted
01:52

EPF Scheme – Few Key points
01:49

Magic Salary – meaning
00:33

Provident fund - Applicability & Coverage
10 questions
+
Contribution Heads, Rates & Account Nos.
2 Lectures 04:48
Generation of the Fund under the Act
01:30

(a) Various Contribution heads (b) Accounts Numbers (c) Rate of contribution
03:18
+
Employees’ Pension Scheme (EPS)
1 Lecture 01:07
(a) Pension as per Employees' Pension Scheme (b) Minimum and Maximum Pension
01:07

Contribution Heads - Rates , Account Nos. & Pension
9 questions
+
Formulae & other Requisites for PF & Pension Calculations
1 Lecture 02:24
Provident Fund & Pension Calculations (a) Requisites (b) Formulae
02:24
+
Typical cases in calculation
5 Lectures 06:26
Case I: Basic + DA > Prescribed Limits
01:45

Case II: Basic + DA < Prescribed Limits
01:40

Case III: Basic + DA = Prescribed Limits
01:36

Criteria for exclusion from Pension Scheme
00:38

Case IV: Based on Pension Scheme
00:47

This section has five questions. All questions are based on the topics covered under "Typical cases in calculation"
Assignment 1: Contributions towards PF and Pension
5 questions
8 More Sections
About the Instructor
Perfect Tax
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2 Students
1 Course
We think beyond numbers

Perfect Tax

Initiative of a management graduate with work experience in Finance, Oil & Gas, Transportation & Logistics sector.

Aditya Kiran, has MBA and M.Com, and has worked with leading companies based out of Mumbai. In addition, has independently rolled out the salaries of nearly 4000 employees along with other responsibilities in the Payroll Division on a monthly basis for years together. Presently, trains employees working in organisations on practical aspects in Tax, Payroll, Finance and Accounts. Further, mentors commerce students for University exams.