Please explain as to what basic can be kept for Gross salary of 1lac p/m. also is their any rule of basic as per PF Act.
in general we keep 50% of gross as basic. but is it viable to keep 15k basic for salary of 1 lac. please explain the basic rules as per pf act or other related rules & regulations.
From India, Mumbai
in general we keep 50% of gross as basic. but is it viable to keep 15k basic for salary of 1 lac. please explain the basic rules as per pf act or other related rules & regulations.
From India, Mumbai
Dear Mr Bhardwaj
PFA copy of EPF Tribunal judgement on PF contribution and splitting of MW which is self explanatory.
Regards
N Nataraajhan, Sakthi Management Services (HP : + 91 94835 17402 ; e-mail :
)
From India, Bangalore
199PFA copy of EPF Tribunal judgement on PF contribution and splitting of MW which is self explanatory.
Regards
N Nataraajhan, Sakthi Management Services (HP : + 91 94835 17402 ; e-mail :
From India, Bangalore
Dear Ritika Bhardwaj,
Basic can be kept b/w 40% to 60% of the gross, rest of the entitlements can calculate accordingly. For PF also basic will be considered as per MW act. In the above case what you are expecting. i.e to escape PF liability for 1Lac salary or you want to pay.
From India, Hyderabad
Basic can be kept b/w 40% to 60% of the gross, rest of the entitlements can calculate accordingly. For PF also basic will be considered as per MW act. In the above case what you are expecting. i.e to escape PF liability for 1Lac salary or you want to pay.
From India, Hyderabad
Hi pf percentage 12% it was a fixed value and percentages basic and hra other columns whatever you mentioned your payroll depends on your company and if you wish to get a highest take home maintain lowest percentage on your basic example 20 30 percentage to on gross it will help to give bettere take-home salaries to your employees below am giving perfect example of your payroll gross salary 15000/- so prepare your payroll like this
basic20%
hra 20%
conveyance 10%
LTA 10^
Medical 10%
others 10%
FBP20%
thanks,
venkatesh
From India, Hyderabad
basic20%
hra 20%
conveyance 10%
LTA 10^
Medical 10%
others 10%
FBP20%
thanks,
venkatesh
From India, Hyderabad
No i want to pay but at the same time want to know if anywhere it is written that we have to keep basic as 15000 for gross salary above 30 k . also, what basic can be kept for salary of 100000.
From India, Mumbai
From India, Mumbai
For above 30k sal no need to keep basic 15k ,There is no such edict . You can keep basic as per your company norms calculations but all the thing you need to check is whether Basic+DA is meeting with the MW act guidelines or not. You can keep 40k basic for your 1lac salary.
If you still have any query, you can contact on
From India, Hyderabad
If you still have any query, you can contact on
From India, Hyderabad
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