I have a few queries regarding PF calculations. Please provide me the correct formula to calculate PF.
In the attached excel file, I have done the PF calculation as per my knowledge. I have done 2 calculations with 3 different basic salary amounts. Please tell me which one is correct. If both are wrong then what is the correct calculation?
From India, Mumbai
In the attached excel file, I have done the PF calculation as per my knowledge. I have done 2 calculations with 3 different basic salary amounts. Please tell me which one is correct. If both are wrong then what is the correct calculation?
From India, Mumbai
I have gone through the excel sheet and both your options. I think your first option is correct.
As employee PF is 12% of basic salary of the employee.
and employer PF is 12% of minimum basic pay of 6500/- i.e fixed to 780/-
Regards
Namrata
From India, Mumbai
4As employee PF is 12% of basic salary of the employee.
and employer PF is 12% of minimum basic pay of 6500/- i.e fixed to 780/-
Regards
Namrata
From India, Mumbai
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