Dear Professionals. Is PF to be calculated on statutory bonus that we are paying monthly? And what components are excluded from PF calculation in CTC? Thank You,
From India, Ahmedabad
1From India, Ahmedabad
Hi, Bonus to be paid on annual basis. While it is ok to add it in the CTC part no need to consider it for PF calculation.
From India, Madras
From India, Madras
HI,
Bonus is payable by a company or organization once in a year and calculation is 8.33% gross salary/equivalent to one month salary or 20 % on Basic + DA and there are on statutorily applicable to the bonus.
Regards
From India, Bangalore
Bonus is payable by a company or organization once in a year and calculation is 8.33% gross salary/equivalent to one month salary or 20 % on Basic + DA and there are on statutorily applicable to the bonus.
Regards
From India, Bangalore
Dear Lakshmi Narayanan sir, Is it possible to pay bonus monthly instead of annually?
From India, Ahmedabad
From India, Ahmedabad
Payment of bonus is to be made within eight months of the close of the financial year. As such, you cannot distribute it over 12 months. When you pay it monthly, the amount will attract ESI in case of those covered under ESI
From India, Kannur
From India, Kannur
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls