In gross salary, PF Employee contribution will be on gross salary or on net salary. i.e, My gross salary per annum is 300000/-, i.e 25000/- per month but in my salary slip gross salary showing as 24100/- per month and PF-900, P.T-200, Net salary - 23100. Please can any body explain in this regard.
From India, Bangalore
From India, Bangalore
7
Hi,
Please read your salary slip again as you have missed many things to notice.
You said that your net salary is Rs 23100 after deduction of Rs. 900 (PF) and Rs 200(PT) which means your total gross salary is Rs. 24200 but you said that you have notice its showing Rs.24100 which is wrong.
Now let me tell you what actually your breakup of salary is
Rs. 7,500 : Basic (Monthly) :
Rs. 3,750 : HRA
Rs. 200 : PT (as you said above)
Rs. 4,000 : Others
Total Gross ( A ) Rs. 15,450/- (else 70% of your Monthly Gross Rs 17,500/-)
without reimbursement or other elements which is Rs. 9,550/- (Else Rs. 7,500/-)
Reimbursement
Rs. 1,250 : Medical
Rs. 800 : Conveyance
Rs 5,450 : Entertainment and Other (Else Rs. 7,500/-)
Total Gross ( B ) : 9,550/- (Rs. 7,500/-)
A+B = Rs. 15,450+Rs. 9,550 = Rs. 25,000/-
Else
A+B =Rs . 17,500+Rs. 7,500= Rs. 25,000/-
So your Total Monthly Gross : 25,000/- (as you said above)
Deduction: 900/- (EPF)
Deduction : 1000/- (Other, which you have to discover by reading your salary slip properly else need to contact your HR Department)
Total Deduction : Rs 1,900/-
Therefore your total net take home salary is Rs. 23100/-
Total Monthly Gross - Total Deduction
Rs. 25,000 - Rs. 1900 = Rs. 23100/-
From India, Gurgaon
Please read your salary slip again as you have missed many things to notice.
You said that your net salary is Rs 23100 after deduction of Rs. 900 (PF) and Rs 200(PT) which means your total gross salary is Rs. 24200 but you said that you have notice its showing Rs.24100 which is wrong.
Now let me tell you what actually your breakup of salary is
Rs. 7,500 : Basic (Monthly) :
Rs. 3,750 : HRA
Rs. 200 : PT (as you said above)
Rs. 4,000 : Others
Total Gross ( A ) Rs. 15,450/- (else 70% of your Monthly Gross Rs 17,500/-)
without reimbursement or other elements which is Rs. 9,550/- (Else Rs. 7,500/-)
Reimbursement
Rs. 1,250 : Medical
Rs. 800 : Conveyance
Rs 5,450 : Entertainment and Other (Else Rs. 7,500/-)
Total Gross ( B ) : 9,550/- (Rs. 7,500/-)
A+B = Rs. 15,450+Rs. 9,550 = Rs. 25,000/-
Else
A+B =Rs . 17,500+Rs. 7,500= Rs. 25,000/-
So your Total Monthly Gross : 25,000/- (as you said above)
Deduction: 900/- (EPF)
Deduction : 1000/- (Other, which you have to discover by reading your salary slip properly else need to contact your HR Department)
Total Deduction : Rs 1,900/-
Therefore your total net take home salary is Rs. 23100/-
Total Monthly Gross - Total Deduction
Rs. 25,000 - Rs. 1900 = Rs. 23100/-
From India, Gurgaon
As per your query your Salary (CTC) is Rs. 25000/- wherein your basic is Rs. 7500/- so 12% on your Basic comes to Rs. 900/- so if you deduct the PF Contribution (Employer) your Gross Salary will be Rs. 24,100, thereafter deducting your PF Contribution and PT your net salary will be Rs. 23,000/-
From India, Ahmadabad
From India, Ahmadabad
Dear Shiva,
If your monthly gross is Rs.25,000/-, but your salary slip shows the gross as Rs.24,100/- then the employer contribution of EPF may be deducted from your gross salary. Also, your net salary is Rs.23,000/- and not Rs.23,100/- Please check once again.
Regards,
From India, Pune
If your monthly gross is Rs.25,000/-, but your salary slip shows the gross as Rs.24,100/- then the employer contribution of EPF may be deducted from your gross salary. Also, your net salary is Rs.23,000/- and not Rs.23,100/- Please check once again.
Regards,
From India, Pune
Dear Reddy,
I think you have not seen your Salary slip properly.
The Amount you have mentioned i.e. Rs.3,00,000 / annum as Gross salary is actually CTC (Cost To Company).
The amount you have mentioned i.e. Rs.900 / month as diduction of PF may be wrong. It should not exceed to Rs.885 / month, if you are not contributing more volentiorly.
The limit to contribute PF is on Rs.6,500/- maximum.
From India
I think you have not seen your Salary slip properly.
The Amount you have mentioned i.e. Rs.3,00,000 / annum as Gross salary is actually CTC (Cost To Company).
The amount you have mentioned i.e. Rs.900 / month as diduction of PF may be wrong. It should not exceed to Rs.885 / month, if you are not contributing more volentiorly.
The limit to contribute PF is on Rs.6,500/- maximum.
From India
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf