Hi All,
My CTC components are Basic + HRA + Conveyance + education allowance + personal allowance + performance incentive (Fixed not variable) + travelling allowance + mobile expenses = Gross Salary.
Bonus = 12 month Basic * 8.33%
PF = Basic * 12% (Employee as well as employer).
I have some confusion regarding the new rule of PF. My confusions are as below:
1. If basic is 15000 & above, what would be PF deduction for both employee & employer?
2. If Basic is less than 15000 & Gross salary above 15000, what would be PF deduction for both employee & employer?
3. If basic & gross salary are less than 15000, what would be PF deduction for both employee & employer?
Please help, there is too much confusion.
From India, Ahmedabad
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My CTC components are Basic + HRA + Conveyance + education allowance + personal allowance + performance incentive (Fixed not variable) + travelling allowance + mobile expenses = Gross Salary.
Bonus = 12 month Basic * 8.33%
PF = Basic * 12% (Employee as well as employer).
I have some confusion regarding the new rule of PF. My confusions are as below:
1. If basic is 15000 & above, what would be PF deduction for both employee & employer?
2. If Basic is less than 15000 & Gross salary above 15000, what would be PF deduction for both employee & employer?
3. If basic & gross salary are less than 15000, what would be PF deduction for both employee & employer?
Please help, there is too much confusion.
From India, Ahmedabad
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Dear Nilesh,
Greetings,
Regarding your query:
1) It will be 1800 from both the employee and employer.
2) If the basic is less than 15000, then it will be calculated on the gross salary excluding HRA, Bonus, and Commissions.
3) Same as the 2nd point.
Thank you.
From India, Hyderabad
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4Greetings,
Regarding your query:
1) It will be 1800 from both the employee and employer.
2) If the basic is less than 15000, then it will be calculated on the gross salary excluding HRA, Bonus, and Commissions.
3) Same as the 2nd point.
Thank you.
From India, Hyderabad
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