Dear All,
All are requested to pls clear the doubt on attached EPF interpretation.
Pls see the attached EPF Interpretation and let know which one is the right Interpratation A or B ?
Thanks & Regards
Reddy
From India, Mumbai
All are requested to pls clear the doubt on attached EPF interpretation.
Pls see the attached EPF Interpretation and let know which one is the right Interpratation A or B ?
Thanks & Regards
Reddy
From India, Mumbai
Dear Reddy,
For a simple question you attach a file! However I shall tell the answer.
Pension contribution is calculated at the ceiling salary of R. 6500 on pro rata basis. Accordingly the salary for 20 days = 6500x20/31 = 4194 and pension contribution = 4194x8.33% = 349.
Abbas.P.S
From India, Bangalore
517For a simple question you attach a file! However I shall tell the answer.
Pension contribution is calculated at the ceiling salary of R. 6500 on pro rata basis. Accordingly the salary for 20 days = 6500x20/31 = 4194 and pension contribution = 4194x8.33% = 349.
Abbas.P.S
From India, Bangalore
Dear Abbas,
Thanks for your clarification....in the attachment the earned basic for 20 days is Rs. 9678/- in this case what should be the considerable pension Salary Rs. 6500/- or Rs. 4194/-.
Thanks & Regards
Basivi Reddy
From India, Mumbai
Thanks for your clarification....in the attachment the earned basic for 20 days is Rs. 9678/- in this case what should be the considerable pension Salary Rs. 6500/- or Rs. 4194/-.
Thanks & Regards
Basivi Reddy
From India, Mumbai
From my above posting it is clear that ceiling salary for one month is Rs. 6500 and for 20 days it is Rs. 4194. Accordingly the contributions will be deducted / credited. Abbas.P.S
From India, Bangalore
From India, Bangalore
How will it come true? Ceiling salary of pension is Rs. 6500 means for 30 or 31 days they will take as 6500.
Accordingly for lesser days they will count on pro rata basis. Hence Case B is correct.
Abbas.P.S
From India, Bangalore
Accordingly for lesser days they will count on pro rata basis. Hence Case B is correct.
Abbas.P.S
From India, Bangalore
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EPF ON LINE REGN. USER MANUAL.pdf