Hi, can anyone help me understand the preset percentage of PF deductions in companies? It seems that different companies have started varying deductions in salaries, claiming it to be in accordance with the new rule of 2016 where PF deductions have supposedly increased. I am quite confused about this. Below, I have provided my colleague's salary breakdown for reference: Gross is 21000 and Basic 20%, HRA 20%, Conveyance 10%, LTA 10%, Medical 10%, Others 10%, and FBP 20%.
The deduction part includes PF, gratuity, and meal coupons (although he is not registered for meal coupons). The PF percentage is 12%, but I am unsure if this has changed. Currently, he is receiving 17789 after a deduction of 3000 from the gross amount. Is this calculation correct? Please help me understand this better.
Regards, [Email Removed For Privacy Reasons]
[Phone Number Removed For Privacy Reasons]
From India, Hyderabad
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3The deduction part includes PF, gratuity, and meal coupons (although he is not registered for meal coupons). The PF percentage is 12%, but I am unsure if this has changed. Currently, he is receiving 17789 after a deduction of 3000 from the gross amount. Is this calculation correct? Please help me understand this better.
Regards, [Email Removed For Privacy Reasons]
[Phone Number Removed For Privacy Reasons]
From India, Hyderabad
Acknowledge(0)Amend(0)
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SALARY with out PF Deduction.xls
Online payment of PF mandatory from 1.1.2016.pdf