Hi,
I am working in an ITES as HR & i have a doubt on calculation of PF.Can anyone tell is there any other calculation for PF other than 12% on basic.Is it correct if PF is calculated like this 70% of gross pay *12% =PF amount.
From India, Madras
3I am working in an ITES as HR & i have a doubt on calculation of PF.Can anyone tell is there any other calculation for PF other than 12% on basic.Is it correct if PF is calculated like this 70% of gross pay *12% =PF amount.
From India, Madras
Hi,
Please refer the contribution rate below:
PF => 12% of Basic.
For any employee getting basic more than 6500, you can limit the PF at Rs. 780.
Employees 12% PF Fund
Employer 13.61%
3.67% PF Fund
8.33% Pension Fund
1.10% PF Admin Charges
0.50% EDLI
0.01% EDLI Admin charge
For any further clarification feel free to write or discuss.
From India, Mumbai
Please refer the contribution rate below:
PF => 12% of Basic.
For any employee getting basic more than 6500, you can limit the PF at Rs. 780.
Employees 12% PF Fund
Employer 13.61%
3.67% PF Fund
8.33% Pension Fund
1.10% PF Admin Charges
0.50% EDLI
0.01% EDLI Admin charge
For any further clarification feel free to write or discuss.
From India, Mumbai
Dear,
From your calculation i can derive that you are considering BASIC as 70% of your gross salary. and calculating 12% of basic as PF. Which is abolutely fine.
First you fix your basic which depends on your compensation structure.
For any further clarification feel free to write or discuss.
From India, Mumbai
From your calculation i can derive that you are considering BASIC as 70% of your gross salary. and calculating 12% of basic as PF. Which is abolutely fine.
First you fix your basic which depends on your compensation structure.
For any further clarification feel free to write or discuss.
From India, Mumbai
But i checked whether its been followed like that but for one or two its correct(70% as basic),for others they have calculated PF as i mentioned.
From India, Madras
From India, Madras
I mean here basic is not fixed as 70% of gross pay,but PF is calculated as 70% of Gross pay *12%.So i just want to make sure is it correct if PF is calculated like this.
From India, Madras
From India, Madras
Hi, PF is always calculated on basic i.e. 12%. First, fix your basic calculation. I have a doubt on your calculation.
From India, Mumbai
From India, Mumbai
Prasenjit Mitra, Suppose voluntary provision the basic amount even exceeds Rs.6500/- and we have to pay the administrative charges on the total wages. Raju
From India, Secunderabad
From India, Secunderabad
Dear Babisolmanraju, You have to pay administrative charges on the Basic that you are calculating.
From India, Mumbai
From India, Mumbai
Hi
First you restructure you pay structure and fix the basic salary as 50% of gross salary and calculate 12% PF on basic, and you can restrict pf for rs 780 if any employee getting more than 6500 basic
From India, Hyderabad
First you restructure you pay structure and fix the basic salary as 50% of gross salary and calculate 12% PF on basic, and you can restrict pf for rs 780 if any employee getting more than 6500 basic
From India, Hyderabad
Dear Seniors,
Hope all is going well. I need some help from you as
1-What is the procedure register in EPF in Delhi while we have register in Bangalore.
2- We have register in Bangalore as society trust and we want do register in Delhi as same name. Can we do. if yes what is the procedure as what documents they require, amount for registration fee etc
3-what are the guidelines for fresh IEC (Import & Export Code) what document to be submitted and what will be the fee etc..
Regards
Jot Singh Panwar
From India, Delhi
Hope all is going well. I need some help from you as
1-What is the procedure register in EPF in Delhi while we have register in Bangalore.
2- We have register in Bangalore as society trust and we want do register in Delhi as same name. Can we do. if yes what is the procedure as what documents they require, amount for registration fee etc
3-what are the guidelines for fresh IEC (Import & Export Code) what document to be submitted and what will be the fee etc..
Regards
Jot Singh Panwar
From India, Delhi
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SALARY SHEET CALCULATION.xls