If my basic salary + da is 10000 and my attendance is 25 days pf on which amount will be deducted. is it on 6500 or on basis on no of days attended
From India, Chandigarh
From India, Chandigarh
Dear Tanuj, Employee contribution will be deduct based on the actual earned basic in a particular month. Regards, Ashok.
From India, Madras
5From India, Madras
Dear Oberoi Tanuj,
The statutory ceiling limit is Rs. 6500. If your employer depend this amount, its pro-rata calculation subject to attendance will be taken into account. If it is actual, the same manner it will be calculated. Only thing Rs. 6500 will be replaced with actual salary.
Abbas.P.S
From India, Bangalore
The statutory ceiling limit is Rs. 6500. If your employer depend this amount, its pro-rata calculation subject to attendance will be taken into account. If it is actual, the same manner it will be calculated. Only thing Rs. 6500 will be replaced with actual salary.
Abbas.P.S
From India, Bangalore
dear tanuj, you pf contribution would be 1040 and the employer’s contribution would be 676 rs. in this particulars month.
From India, Ahmadabad
From India, Ahmadabad
Dear Friend,
PF deduction is based on the company's policy i.,e some follow 12% of basic+DA while others follow 12% of basic+DA subject to maximum of Rs.780/- (statutory ceiling Rs.6500/-). Nowadays it is part of the CTC and hence whatever agreed at the time of employment has to be followed.
Regards
BHAVAN
From India, Bangalore
PF deduction is based on the company's policy i.,e some follow 12% of basic+DA while others follow 12% of basic+DA subject to maximum of Rs.780/- (statutory ceiling Rs.6500/-). Nowadays it is part of the CTC and hence whatever agreed at the time of employment has to be followed.
Regards
BHAVAN
From India, Bangalore
Dear Oberoi Tanuj,
It is based on the company policy. As rightly pointed out by Bhavan company's actually include this element (Wheter it will be on Rs.6500/- or wages earned).
In other words if the company contributes on Rs.6500/- the employer contribution for the difference (Wages earned - Rs.6500/-) will actually be paid to you in some form as it is inbuilt in CTC by the company.
CTC is nothing but cost to company which includes all wages, benefits, welfare facilities that the company incurs for that particular employee.
Trust matter is clarified.
M.V.KANNAN
From India, Madras
It is based on the company policy. As rightly pointed out by Bhavan company's actually include this element (Wheter it will be on Rs.6500/- or wages earned).
In other words if the company contributes on Rs.6500/- the employer contribution for the difference (Wages earned - Rs.6500/-) will actually be paid to you in some form as it is inbuilt in CTC by the company.
CTC is nothing but cost to company which includes all wages, benefits, welfare facilities that the company incurs for that particular employee.
Trust matter is clarified.
M.V.KANNAN
From India, Madras
Dear Tanuj, I think everbody has given opinion & most of them are correct. It is depends upon the company policy to deduct 12% or legal maximum limit of Rs.780/-. Best regds. Pradeep
From India, Mumbai
From India, Mumbai
hi ravi,
his basic is 10000 rs per month. if there is 30 days in month it means his one day salary is =10000/30 = 333.33. now he was present for 25 days it means his basic for 25 days is = 333.33 * 25 = 8333.33. his pf part is 1000. but employers' max part is 780 only.
1040 was calculation. mistake..
others comment is correct.
From India, Ahmadabad
his basic is 10000 rs per month. if there is 30 days in month it means his one day salary is =10000/30 = 333.33. now he was present for 25 days it means his basic for 25 days is = 333.33 * 25 = 8333.33. his pf part is 1000. but employers' max part is 780 only.
1040 was calculation. mistake..
others comment is correct.
From India, Ahmadabad
Dear Ajay Rathore,
The celing limit of PF is Rs. 6500 & its 12% is 780. But if employer wishes, he may contribute on actual salary. Accordingly if the salary is Rs. 10,000, the employer may remit Rs. 1,200. There is no restriction to limit at 780.
Abbas.P.S
From India, Bangalore
The celing limit of PF is Rs. 6500 & its 12% is 780. But if employer wishes, he may contribute on actual salary. Accordingly if the salary is Rs. 10,000, the employer may remit Rs. 1,200. There is no restriction to limit at 780.
Abbas.P.S
From India, Bangalore
Dear Abbas,
As per the practise on PF Act, employee's contribution has been deducted on their actual earnings (Basic+DA+other components if any nature of their business) in a particular month (LOP accounted). But the employer contribution has been made by two ways which is equally to the employee (equaly contribution to 12% on earnings) or on the restricted wages restricted to Rs 780/- (Purely based on the company policy).
From India, Madras
As per the practise on PF Act, employee's contribution has been deducted on their actual earnings (Basic+DA+other components if any nature of their business) in a particular month (LOP accounted). But the employer contribution has been made by two ways which is equally to the employee (equaly contribution to 12% on earnings) or on the restricted wages restricted to Rs 780/- (Purely based on the company policy).
From India, Madras
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls