Dear all, can anybody tell me that how to calculate the pf and what is the minimum wages slab......................:?:
From India, Pune
From India, Pune
167
adding to mr malik's post.
If an employee is getting Basic + DA more than 6500, then employee has to pay 12% on his basic but employer can freeze to 6500 itself.
PF Calculation:
For Less than 6500
Consider an X employee basic is 5000
Employee Contribution 12% : 600
Employer Contribution
EPF (3.67%): 183
EPS (8.33%): 417
EPF Admin Charges (1.10%): 55
EDLI Account (0.50%): 25
EDLI Admin Charges (0.01%): 1
Consider an X employee basic is 10000
EPF (3.67%): 659
EPS (8.33%): 541 (EPS should be calculated on 6500 remaining amount should be added in EPF account)
EPF Admin Charges (1.10%): 110
EDLI Account (0.50%): 33
EDLI Admin Charges (0.01%): 1
From India, Madras
If an employee is getting Basic + DA more than 6500, then employee has to pay 12% on his basic but employer can freeze to 6500 itself.
PF Calculation:
For Less than 6500
Consider an X employee basic is 5000
Employee Contribution 12% : 600
Employer Contribution
EPF (3.67%): 183
EPS (8.33%): 417
EPF Admin Charges (1.10%): 55
EDLI Account (0.50%): 25
EDLI Admin Charges (0.01%): 1
Consider an X employee basic is 10000
EPF (3.67%): 659
EPS (8.33%): 541 (EPS should be calculated on 6500 remaining amount should be added in EPF account)
EPF Admin Charges (1.10%): 110
EDLI Account (0.50%): 33
EDLI Admin Charges (0.01%): 1
From India, Madras
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls