Dear sir what wiil be the calculation , if pf salary is rs.7500/- p.m ? Regards sanjoy
From India, Durgapur
From India, Durgapur
Dear Mr.Sanjay,
Irrespective of gross salary , PF will be calculated on basic salary. Untill basic salary of Rs.6,500 pf amount=12% on basic.
As pf is applicable for the employee who has basic salary equal or less than Rs.6,500, pf will be calculated as 12% on 6500 eventhough basic salary exceeds 6,500.
In your query, if basic salary is Rs.7,500 pf amount=Rs.780/-(12% on 6500)
Regards,
SriHari.
From India, Pune
Irrespective of gross salary , PF will be calculated on basic salary. Untill basic salary of Rs.6,500 pf amount=12% on basic.
As pf is applicable for the employee who has basic salary equal or less than Rs.6,500, pf will be calculated as 12% on 6500 eventhough basic salary exceeds 6,500.
In your query, if basic salary is Rs.7,500 pf amount=Rs.780/-(12% on 6500)
Regards,
SriHari.
From India, Pune
If your gross salary is Rs.7500/ , take 12%from your Basic salary, or if your basic is Rs.7500/ As per the act 12% from ceiling limit is Rs.6500/ beyond the employer interest can pay 12% from actual basic earned.
Good Evening
Pushparaj
From India, Madras
1Good Evening
Pushparaj
From India, Madras
plz elaborate ur question. if 7500 is a gross salary then pf deduction is 12 % of basic salary. if basic salary is Rs.7,500 pf amount=Rs.780/-(12% on 6500)
From India, Hyderabad
From India, Hyderabad
Dear Hari sir,
Even i am in a newly started private organization and cannot able to give salary break up allowances to be provided for the company, employees for the different gross salary, and i have to create the medical,ESIC,PF, what percentage and how to get pf account for my company, should i consult chattered account or PF office, Please help me out. Sir how can we calculate if the salary exceeds 1 Lac, what will be the pf contribution from the employee as well as from the employer, please advise the salary break up and allowances i can give for the salary structure as it is new company. if u can give me the percentages of all the allowances n as well as the PF, please help me out as i am really tensed because as i have to start break up procedure from Jan 01 2011. this will be a grateful help to make my carrier in HR. what % allowances for the break up on gross salary. can u gimme the example with figure wise. please sir
Thanks n regards
Sharath Jayaram
8082247215(mumbai)
From India, Mumbai
Even i am in a newly started private organization and cannot able to give salary break up allowances to be provided for the company, employees for the different gross salary, and i have to create the medical,ESIC,PF, what percentage and how to get pf account for my company, should i consult chattered account or PF office, Please help me out. Sir how can we calculate if the salary exceeds 1 Lac, what will be the pf contribution from the employee as well as from the employer, please advise the salary break up and allowances i can give for the salary structure as it is new company. if u can give me the percentages of all the allowances n as well as the PF, please help me out as i am really tensed because as i have to start break up procedure from Jan 01 2011. this will be a grateful help to make my carrier in HR. what % allowances for the break up on gross salary. can u gimme the example with figure wise. please sir
Thanks n regards
Sharath Jayaram
8082247215(mumbai)
From India, Mumbai
Dear Sharath,
Minimum Pf which has to be paid is Rs 360 Maximum can be any figure which depends on the organization. This information i got recently from an PF inspector who came to our company
Regards
Anand Mahendran
Bangalore
From India, Delhi
Minimum Pf which has to be paid is Rs 360 Maximum can be any figure which depends on the organization. This information i got recently from an PF inspector who came to our company
Regards
Anand Mahendran
Bangalore
From India, Delhi
PF will be deducted from employee @12% on Basic + DA
and the same amount will be contributed by the employer.
If Basic + DA is > Rs. 6500/- it will depend on the company whether they will deduct Rs. 6500*12%=780 which is maximum PF salary or they deduct on full Baic + DA irrespective of amount.
Best Regards
Modi Ashok Kumar
From India, Bangalore
and the same amount will be contributed by the employer.
If Basic + DA is > Rs. 6500/- it will depend on the company whether they will deduct Rs. 6500*12%=780 which is maximum PF salary or they deduct on full Baic + DA irrespective of amount.
Best Regards
Modi Ashok Kumar
From India, Bangalore
Contribution Towards Calculation Amount A/c Head
EPF EMPLOYEES SHARE 7500 X 12% 900 1
EPS EMPLOYER SHARE 6500 X 8.33% 541 10
EPF EMPLOYER SHARE 7500 X 12%(-) 541 359
EDLI CHARGES 6500 x 0.5% 32.5 21
EPF ADMIN CHARGES 6500 X 1.1% 71.5 2
EDLI ADMIN CHARGES 6500 X 0.01% 0.65 22
Employer is decided to contribute on total basic salary which is 12% on Rs.7500 equal to Rs.900.
EPS share is fixed to Rs.541/-
Balance (900-541) goes to EPF A/c Rs.395/-
Total Share Rs.900/-
Out of Rs.900 EPS Share is Rs.541/- which is fixed for a basic salary greater than Rs.6500/-. The balance amount is 900-541=359 which will go to EPF account.
You will think what about 3.67%? Here you dont need to care about it.
From India, Rajkot
EPF EMPLOYEES SHARE 7500 X 12% 900 1
EPS EMPLOYER SHARE 6500 X 8.33% 541 10
EPF EMPLOYER SHARE 7500 X 12%(-) 541 359
EDLI CHARGES 6500 x 0.5% 32.5 21
EPF ADMIN CHARGES 6500 X 1.1% 71.5 2
EDLI ADMIN CHARGES 6500 X 0.01% 0.65 22
Employer is decided to contribute on total basic salary which is 12% on Rs.7500 equal to Rs.900.
EPS share is fixed to Rs.541/-
Balance (900-541) goes to EPF A/c Rs.395/-
Total Share Rs.900/-
Out of Rs.900 EPS Share is Rs.541/- which is fixed for a basic salary greater than Rs.6500/-. The balance amount is 900-541=359 which will go to EPF account.
You will think what about 3.67%? Here you dont need to care about it.
From India, Rajkot
Dear Sanjay,
You have been posted with various valuble replies even i would like to share my opinion about your query, as rightly said in the above replies by members that PF is calculated at 12% of basic salary again it is calculated at 1.75% of gross salary/month so....
1.75/100*7500=131.25.
If seniors can update me with their guidance in case my reply has some lacoonas I'll be grateful.
Happy New Year:)
Regards,
Rahul Trivedi
From India, Hyderabad
You have been posted with various valuble replies even i would like to share my opinion about your query, as rightly said in the above replies by members that PF is calculated at 12% of basic salary again it is calculated at 1.75% of gross salary/month so....
1.75/100*7500=131.25.
If seniors can update me with their guidance in case my reply has some lacoonas I'll be grateful.
Happy New Year:)
Regards,
Rahul Trivedi
From India, Hyderabad
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls
PF ON LEAVE SALARY.jpg