Dear all,
One of my employees presented his PF challan for the year 2014 and had the following doubt. Although 12% has been contributed correctly from my company, the split between EPF and EPS has changed over two consecutive months even though the employee's Basic+DA has remained at Rs. 10,800 with no alteration.
Oct 2014:
Employee share = Rs. 1,296 (12%)
Employer share: EPF: 755 (6.99%) and EPS: 541 (5.009%) - Total is 1,296 (12%)
Nov 2014:
Employee share = Rs. 1,296 (12%)
Employer share: EPF: 396 (3.66%) and EPS: 900 (8.33%) - Total is 1,296 (12%)
Please help clarify why the amount diverted to EPS is varying.
Regards,
Deepthi
From India, Silvassa
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1One of my employees presented his PF challan for the year 2014 and had the following doubt. Although 12% has been contributed correctly from my company, the split between EPF and EPS has changed over two consecutive months even though the employee's Basic+DA has remained at Rs. 10,800 with no alteration.
Oct 2014:
Employee share = Rs. 1,296 (12%)
Employer share: EPF: 755 (6.99%) and EPS: 541 (5.009%) - Total is 1,296 (12%)
Nov 2014:
Employee share = Rs. 1,296 (12%)
Employer share: EPF: 396 (3.66%) and EPS: 900 (8.33%) - Total is 1,296 (12%)
Please help clarify why the amount diverted to EPS is varying.
Regards,
Deepthi
From India, Silvassa
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