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Dear All,
Since the range has been increased from Rs. 6,500 to Rs. 15,000, can you please confirm if the below calculations are correct?
Basic + DA = Rs. 10,000, cut off amount as per PF office Rs. 15,000. Employee deduction at 12% on Basic + DA = Rs. 1200. Employer Contribution is 8.33% of Rs. 10,000, i.e., Rs. 833 to EPS and 3.67% of Rs. 10,000, i.e., Rs. 367 to EPF.
Or is it 8.33% of Rs. 15,000, i.e., Rs. 1250 to EPS and 3.67% of Rs. 15,000, i.e., Rs. 550 to EPF?
Similarly, whether EDLI (by Employer) EDLI at 0.5%, Admin charges at 1.1%, and EDLI Admin charges at 0.01% to be calculated on Rs. 10,000 (Basic + D.A) or on the cut-off range of Rs. 15,000?
Thank you.
From India, Mumbai
Since the range has been increased from Rs. 6,500 to Rs. 15,000, can you please confirm if the below calculations are correct?
Basic + DA = Rs. 10,000, cut off amount as per PF office Rs. 15,000. Employee deduction at 12% on Basic + DA = Rs. 1200. Employer Contribution is 8.33% of Rs. 10,000, i.e., Rs. 833 to EPS and 3.67% of Rs. 10,000, i.e., Rs. 367 to EPF.
Or is it 8.33% of Rs. 15,000, i.e., Rs. 1250 to EPS and 3.67% of Rs. 15,000, i.e., Rs. 550 to EPF?
Similarly, whether EDLI (by Employer) EDLI at 0.5%, Admin charges at 1.1%, and EDLI Admin charges at 0.01% to be calculated on Rs. 10,000 (Basic + D.A) or on the cut-off range of Rs. 15,000?
Thank you.
From India, Mumbai
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