Hello,
Just wanted to know about PF calculation. Is it calculated based on the total number of working days in a month like we do for ESIC deduction? Or is it always calculated based on 30/31 days for a month?
Regards,
Yash
From India, Gurgaon
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Just wanted to know about PF calculation. Is it calculated based on the total number of working days in a month like we do for ESIC deduction? Or is it always calculated based on 30/31 days for a month?
Regards,
Yash
From India, Gurgaon
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Dear Yash,
First, your salary will be taken into account. Here, subject to the ceiling (Rs. 15,000) is statutory, and beyond the ceiling is optional. This ceiling salary or actual salary, as the case may be, will be multiplied by attendance, which will be divided by the total number of days in that month. 12% of the said amount will be credited to EPF.
Abbas.P.S
From India, Bangalore
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530First, your salary will be taken into account. Here, subject to the ceiling (Rs. 15,000) is statutory, and beyond the ceiling is optional. This ceiling salary or actual salary, as the case may be, will be multiplied by attendance, which will be divided by the total number of days in that month. 12% of the said amount will be credited to EPF.
Abbas.P.S
From India, Bangalore
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Dear Mr. Abbas,
Could you please elaborate on how we calculate the monthly PF of employees based on their monthly attendance? I am currently in the T&D department but am interested in transitioning into a generalist role. It would be greatly appreciated if you could assist me in understanding the entire process in detail.
It would be helpful if you could provide an example of how to calculate monthly PF based on attendance.
Regards,
Sneha
From India, New Delhi
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Could you please elaborate on how we calculate the monthly PF of employees based on their monthly attendance? I am currently in the T&D department but am interested in transitioning into a generalist role. It would be greatly appreciated if you could assist me in understanding the entire process in detail.
It would be helpful if you could provide an example of how to calculate monthly PF based on attendance.
Regards,
Sneha
From India, New Delhi
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls