Hi Sir/ Madam, Please help , Do we need to calculate EPF 12% on Basic or do we need to calculate on Basic + Special Allowance.
From India, Hyderabad
From India, Hyderabad
Dear Suneel,
Except HRA, Gratuity and Bonus, All other components will be considered as Basic like Basic+DA, Conveyance, CCA, TPTALL and all special allowances is considered as Basic. We need to calculate on Basic + Special Allowances. Max limit is 15000/-.
Please find the below;
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
1Except HRA, Gratuity and Bonus, All other components will be considered as Basic like Basic+DA, Conveyance, CCA, TPTALL and all special allowances is considered as Basic. We need to calculate on Basic + Special Allowances. Max limit is 15000/-.
Please find the below;
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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