Hi, I never calculated PF practically, so please help me in getting my basics correct. Let's say the PF salary is 8000 (i.e., basic + DA).
Employee's contribution at 12% = 960. Now, employer's contribution at 12%, i.e., 8.33% towards the pension fund = 541 (calculated up to a maximum of 6500). Provident fund at 3.67% = 419 towards the provident fund. DLIF at 0.5%, calculated up to a maximum of 6500 = 33. Administrative charges = 0.01% = 1.
Now, here's what is confusing: What is the central government's contribution towards the pension fund? Is it 1.10% or 1.16% and is it calculated on the actual salary or a maximum of up to 6500?
Just clarify and provide me with a figure in this case so I understand it properly.
Warm regards,
Gaurav
From India, Vadodara
Acknowledge(0)
Amend(0)
3Employee's contribution at 12% = 960. Now, employer's contribution at 12%, i.e., 8.33% towards the pension fund = 541 (calculated up to a maximum of 6500). Provident fund at 3.67% = 419 towards the provident fund. DLIF at 0.5%, calculated up to a maximum of 6500 = 33. Administrative charges = 0.01% = 1.
Now, here's what is confusing: What is the central government's contribution towards the pension fund? Is it 1.10% or 1.16% and is it calculated on the actual salary or a maximum of up to 6500?
Just clarify and provide me with a figure in this case so I understand it properly.
Warm regards,
Gaurav
From India, Vadodara
Acknowledge(0)Amend(0)
Dear Gaurav,
Just check out this link; you may find the desired help from it.
PF Calculation Sheet in Excel
From India, Delhi
Acknowledge(0)Amend(0)
Just check out this link; you may find the desired help from it.
PF Calculation Sheet in Excel
From India, Delhi
Acknowledge(0)Amend(0)
Hi Rajeev,
Thank you for the Excel sheet, but I wanted to know how the provident fund and pension fund get split. What is the central government's contribution towards the pension fund, and is it calculated maximum up to 6500?
Please reply.
Thank you.
Warm regards,
Gaurav
From India, Vadodara
Acknowledge(0)Amend(0)
Thank you for the Excel sheet, but I wanted to know how the provident fund and pension fund get split. What is the central government's contribution towards the pension fund, and is it calculated maximum up to 6500?
Please reply.
Thank you.
Warm regards,
Gaurav
From India, Vadodara
Acknowledge(0)Amend(0)
Employee PF is 12% of Basic. Employer's contribution is 8.33% for the Pension Fund, with a maximum limit of 541/-. The remainder will be contributed at 3.67% by the employer. Admin charges amount to 1.1% of Salary+DA, while EDLI charges are 0.5% and EDLI Ad charges are 0.005%.
For any queries, please contact me at
.
Generalist HR and IR
From India, Ahmadabad
Acknowledge(0)Amend(0)
For any queries, please contact me at
Generalist HR and IR
From India, Ahmadabad
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
PROVIDENT FUND CALCULATION.xls