Good Evening,
Seniors kindly guide me in calculation of PF. Should we take special allowance and food all. consideration for PF calculation if his salary break up is :
Basic - 4000
Medical - 1250
Conveyance - 800
CCA - 600
Food Allowance - 500
Special All. - 850
His PF contribution is - Rs. 4000X12% = 480/- or 5350X12%=642/- which one is correct. I have heard that MP has declared we need to take Spl. All also for PF calculation now on words, is it true?
Thanks & Regards,
sheela
From India, Coimbatore
5Seniors kindly guide me in calculation of PF. Should we take special allowance and food all. consideration for PF calculation if his salary break up is :
Basic - 4000
Medical - 1250
Conveyance - 800
CCA - 600
Food Allowance - 500
Special All. - 850
His PF contribution is - Rs. 4000X12% = 480/- or 5350X12%=642/- which one is correct. I have heard that MP has declared we need to take Spl. All also for PF calculation now on words, is it true?
Thanks & Regards,
sheela
From India, Coimbatore
According to me first one is right that is 480. bcoz pf is deducted on the basic of salary that is 4000 and it is not included special allowances and food expense as i know.
From India, Chandigarh
From India, Chandigarh
Thanku, but I have heard that Madhya Pradesh PF officer declared that from November we need to include Spl. All in Basic for PF calculation, is it true?
From India, Coimbatore
From India, Coimbatore
Basically PF deduct on Basic + Spl All (that is called as DA) as per the govt rules & regulation, so you discuss with your friend as well as your senior they will suggest the same. Chetan Chavan
From India, Pune
From India, Pune
No, In my company we calculate as Basic + D. A. (Special Allowance) X 12 % = P. F. Contibution by Employee Basic + D. A. (Special Allowance) X 13.61 % = P. F. Contibution by Employer
From India, Nasik
From India, Nasik
Hello to all I want to know what is the procedure to withdraw money from your PF account.Quick reviews will be appreciated.
From India, Chandigarh
From India, Chandigarh
Hi,
At this stage suggestion is to withdraw the PF and not get it transfered
for this, buy PF withdraw form (form no.19 and 10C) from the local PF office of the cities where u worked.
U need three forms to be submitted to three organsiations where u worked. some part of the form is to be filled by you (forms are easy to fill) and rest to be filled by your previous companies. These companied will fill their part and submit the same to PF authorities. From there you will receive the amount directly in your mentioned account number with a information note to your mentioed home address.
Note: To get the form you will require your P F Number
From India, Nasik
At this stage suggestion is to withdraw the PF and not get it transfered
for this, buy PF withdraw form (form no.19 and 10C) from the local PF office of the cities where u worked.
U need three forms to be submitted to three organsiations where u worked. some part of the form is to be filled by you (forms are easy to fill) and rest to be filled by your previous companies. These companied will fill their part and submit the same to PF authorities. From there you will receive the amount directly in your mentioned account number with a information note to your mentioed home address.
Note: To get the form you will require your P F Number
From India, Nasik
Dear Sheela,
Referring to your query, as per Sec.2(b) of the EPF and MP Act, 1952, term wages excludes
A.Cash value of any food concession
B. Cash payment by what ever name called paid on a/c of rise in the cost of living, HRA, OT, Bonus, etc.....
C. Any presents made by the employer
From this context, to answer your query: You need not have to include Food Allowance. Secondly there is no clarity as to Special Allowance. You should clearly define for what purpose this special allowance is paid. If defined and justifiable before PF Enforcement, it doesn't attract PF contribution. If not, it comes under the purview of Basic wages and attracts PF contribution, since it is not defined.
To be precise: Wages for PF would be: Basic + DA + VDA + any other allowance which is not defined.
From India, Bangalore
Referring to your query, as per Sec.2(b) of the EPF and MP Act, 1952, term wages excludes
A.Cash value of any food concession
B. Cash payment by what ever name called paid on a/c of rise in the cost of living, HRA, OT, Bonus, etc.....
C. Any presents made by the employer
From this context, to answer your query: You need not have to include Food Allowance. Secondly there is no clarity as to Special Allowance. You should clearly define for what purpose this special allowance is paid. If defined and justifiable before PF Enforcement, it doesn't attract PF contribution. If not, it comes under the purview of Basic wages and attracts PF contribution, since it is not defined.
To be precise: Wages for PF would be: Basic + DA + VDA + any other allowance which is not defined.
From India, Bangalore
Dear Sheela,
Refer to your query, please go through Sec 2 (b) and also Sec 6 of EPF & MISC.Provisions Act -1952. The contributions on PF to be taken on Basic Salary and D.A or any other retaining allowance. other allowances shall not come under the part of wage for payment of contribution under the said act.
Regards
V R RAO PULIPAKA
From India, Bangalore
Refer to your query, please go through Sec 2 (b) and also Sec 6 of EPF & MISC.Provisions Act -1952. The contributions on PF to be taken on Basic Salary and D.A or any other retaining allowance. other allowances shall not come under the part of wage for payment of contribution under the said act.
Regards
V R RAO PULIPAKA
From India, Bangalore
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls