Dear Members,
Can anyone suggest new calculations for PF? As per my knowledge, the Supreme Court has ruled that PF deductions will happen on Basic + Special Allowance. What are the other components that we can add to our salary sheet to reduce the PF deductions?
From India, Chennai
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Can anyone suggest new calculations for PF? As per my knowledge, the Supreme Court has ruled that PF deductions will happen on Basic + Special Allowance. What are the other components that we can add to our salary sheet to reduce the PF deductions?
From India, Chennai
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Dear Suni, except for HRA, Gratuity, and Bonus, all other components will be considered as Basic, such as Basic + DA, Conveyance, CCA, TPTALL, and all special allowances. These are considered as Basic. We need to calculate on Basic + Special Allowances. The maximum limit is 15,000/-.
Please find the details below:
PF Contribution Accounts
A/c No. 1: PF Contribution Account - 12.00 3.67
A/c No. 2: PF Admin Charges Account - 0.50
A/c No. 10: EPS Contribution Account - 8.33
A/c No. 21: EDLIS Contribution Account - 0.50
A/c No. 22: EDLIS Admin Charges Account -
Total Contribution: 12.00 13.00
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1Please find the details below:
PF Contribution Accounts
A/c No. 1: PF Contribution Account - 12.00 3.67
A/c No. 2: PF Admin Charges Account - 0.50
A/c No. 10: EPS Contribution Account - 8.33
A/c No. 21: EDLIS Contribution Account - 0.50
A/c No. 22: EDLIS Admin Charges Account -
Total Contribution: 12.00 13.00
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Salary Sheet & PF PT Calculation & Challan.xls
PF ON LEAVE SALARY.jpg