Dear All, can any one help me regarding PF, in that minimum wages consider as basic or other amount can consider as basic for PF calculation.
From India, Dharwad
From India, Dharwad
For Pf calculation max(ceiling) 6500 basic is to be considered ,if the basic amt is less than 6500 then actual amt is to taken for pf calculation.
From India, Pune
14From India, Pune
P.F is to be calculated not merely on Basic but on basic+ D.a + retaining allowance. if any. If minimum wages paid are Rs.6500/- or less, you have to pay contribution on it. B.Saikumar Mumbai
From India, Mumbai
From India, Mumbai
PF has to be deducted on 12% on Minimum wages ,what ever may be the structure of the salary
From India, Bangalore
From India, Bangalore
Dear All, Please tell me if I am drawing Rs.10000 as my ctc then what would be my Basic amt. and D.A. Is it differ State to State? Regards, Shona
From India, Delhi
From India, Delhi
Dear all,
maximum limit on which pf should be deducted is 6500 (basic), but it depends on company with mutual agreement with the employee that it is to be deducted if basic goes 6500+.
Regards,
Shardaprasad
From India, Pune
maximum limit on which pf should be deducted is 6500 (basic), but it depends on company with mutual agreement with the employee that it is to be deducted if basic goes 6500+.
Regards,
Shardaprasad
From India, Pune
Dear all,
maximum limit of pf deduction is 780 rs (that is 12% of 6500), but it depends on company with mutual agreement with the employee that it is to be deducted more than 780 rs or not, if basic goes 6500+.
Regards,
Shardaprasad
From India, Pune
maximum limit of pf deduction is 780 rs (that is 12% of 6500), but it depends on company with mutual agreement with the employee that it is to be deducted more than 780 rs or not, if basic goes 6500+.
Regards,
Shardaprasad
From India, Pune
all of your suggestion are apart from the question.
Minimum wage is not basic amount.
You can bifurcate minimum wage in basic hra etc.
Suppose Haryana minimum wage is 4847.00 then u can divide it BAsic -3000.00 HRA-1347 Con-500
From India, Delhi
Minimum wage is not basic amount.
You can bifurcate minimum wage in basic hra etc.
Suppose Haryana minimum wage is 4847.00 then u can divide it BAsic -3000.00 HRA-1347 Con-500
From India, Delhi
Well said Mr.Sunil... I was trying to say but i forgot Cite HR has many experienced Seniors.. Well said.
From India, Coimbatore
From India, Coimbatore
The contribution to the PF is calculated @ 12% of the basic pay, DA , Cash value of food concession and retaining allowance , if any, subject to a maximum of Rs.6500/- per month. Voluntary higher contributions are also acceptable at the joint request of the member and the employer . However, the rate of contribution is 10% in respect of the following categories of establishments:
1. Any establishment covered prior to 22.9.97 in which less than 20 persons are employed.
2. Any sick industrial company as defined in Clause(0) of Sub-Section(1) of Section 3 of the sick industrial companies ( special provisions ) Act 1985 and which has been declared as such by the Board for Industrial and Financial Reconstruction.
3. Any Establishment which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth.
4. Any Establishment engaged in manufacturing of (a) Jute , (b) Beedi , (c) Brick , (d) Coir (other than spinning sector), (e) Guar Gum Industries/Factories.
N.B. Source: EPFO, India
From India, Haora
1. Any establishment covered prior to 22.9.97 in which less than 20 persons are employed.
2. Any sick industrial company as defined in Clause(0) of Sub-Section(1) of Section 3 of the sick industrial companies ( special provisions ) Act 1985 and which has been declared as such by the Board for Industrial and Financial Reconstruction.
3. Any Establishment which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth.
4. Any Establishment engaged in manufacturing of (a) Jute , (b) Beedi , (c) Brick , (d) Coir (other than spinning sector), (e) Guar Gum Industries/Factories.
N.B. Source: EPFO, India
From India, Haora
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls
Splitting of minimum wages for PF in abeyance (1).pdf