How to calculate the PF for the employee during settlement..
As per our current rule..
If anybody gets less than or equal to 15000 of basic salary then 1800 else
Basic *12%.
This is how we are doing the calculation during payroll..
During the settlement process, we are facing issues in the employer contribution..
If anybody last working date 1 or 2 days of the month, then we have to process the 2days of salary in the payroll
Let's assume employee per day basic is 700, so for 2 days 2*700=1400 which is less than 15000 , so system will deduct 1800 by default, while doing employer we have to pay 1800 which is correct or wrong...
What is the law says.. Can you please help me with this?
As per our current rule..
If anybody gets less than or equal to 15000 of basic salary then 1800 else
Basic *12%.
This is how we are doing the calculation during payroll..
During the settlement process, we are facing issues in the employer contribution..
If anybody last working date 1 or 2 days of the month, then we have to process the 2days of salary in the payroll
Let's assume employee per day basic is 700, so for 2 days 2*700=1400 which is less than 15000 , so system will deduct 1800 by default, while doing employer we have to pay 1800 which is correct or wrong...
What is the law says.. Can you please help me with this?
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