Hi all,
Has the Honorable Supreme Court issued any amendments for Provident Fund calculation? Previously, the calculation was Basic+DA*12%. However, now, as per the amendment, we have to calculate Basic+DA+RIC/HRA+Attendance Bonus+OT*12%. Can we include HRA (House Rent Allowance) in this calculation?
Thank you.
From India, Bengaluru
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2Has the Honorable Supreme Court issued any amendments for Provident Fund calculation? Previously, the calculation was Basic+DA*12%. However, now, as per the amendment, we have to calculate Basic+DA+RIC/HRA+Attendance Bonus+OT*12%. Can we include HRA (House Rent Allowance) in this calculation?
Thank you.
From India, Bengaluru
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Hi,
As per the PF Amendment, if the basic salary is less than 15000/-, then for the benefit of the member as per PF judgment, PF has to be calculated on gross salary minus HRA amount, out of which a maximum of 15000/- is to be considered. Therefore, where the basic salary is less than 15000/-, it needs to be enhanced to above 15000/-. If the basic salary is above 15000/-, then gross minus HRA is not required to be followed.
From India, Madras
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As per the PF Amendment, if the basic salary is less than 15000/-, then for the benefit of the member as per PF judgment, PF has to be calculated on gross salary minus HRA amount, out of which a maximum of 15000/- is to be considered. Therefore, where the basic salary is less than 15000/-, it needs to be enhanced to above 15000/-. If the basic salary is above 15000/-, then gross minus HRA is not required to be followed.
From India, Madras
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