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Jun 18, 2018 · Interest Calcu= 7Q. = Remit Amount * Delay Date/365*12%. Damages Calcu =14B. =Remit Amount*Delay days/365* Damages % (5,10,15 or 25 %) 18th June 2018. Add Reply → Start New →. kazim2050. 2. Dear Friends please find the attachment of calculation of EPF interest and Damages with examples.
9-Leave Calculation sheet. 10-ESI Calculation (Set Your Requirements) 11-P.F Calculation. (Here there are Two Options one is if Basic<=6500 than Basic*12% otherwise 6500*12%. Second is 12% of Basic) 12-Pension Scheme (not more than 541 rs submission) 13-TDS Calculation. 14-Annual Salary statement of Employee and Employer.
1.If there is arrear calculation involved in the company, how would PF & ESI deductions on arrears be calculated? 2.How to specify about ESI/PF deducted on arrears in monthly, half yearly & yearly returns?
Oct 22, 2021 · Generally, EPF and EPS are parts of the Employee Provident Fund Organization (EPFO) scheme in India, where EPF is a mandatory retirement savings scheme and EPS is a pension scheme. Employee Joining on 16/09/2021: If an employee joins on 16/09/2021 and the payday is 15 days in September 2021, the NCP would be 15 days.
3. Hi.. let me clear to you Sir, actually our senior said if the Basic+DA+Special Allowances comes less than 15k then in that case you have to deduct the PF on the addition of Basic+DA+special Allw. For Example: Basic=10000, Special Allowances=4000. Then we will take the 14000 to calculate the PF amount not 10000.
May 21, 2012 · Penal Interest under section 7Q: # No.of days delayed in making payment x 12% p.a. Penal Damages under section 14B: # No.of days delayed in making payment x 5% p.a (Less than 2 months) # No.of days delayed in making payment x 10% p.a (2 months and above but less than 4 months)
Nov 19, 2020 · As regards to calculation, The basic wages/26 or total work days in a month will give a days wages which is multiplied by actual present days to arrive at monthly earned basic wage.This monthly wage x 12% gives employee contribution. And monthly earned basic wage x 13 % gives employers contribution.
Sep 7, 2011 · I have no idea about EPF calculation. The Rule for Employer contribution is. 1) 3.67% of Basic towards PF. 2) 8.33% of Basic towards Pension scheme or 541 whichever is lesser. The excess of which will be added to PF. If you have noticed the same amount of 541 is used under the pension calculation formula.
For Pf calculation max (ceiling) 6500 basic is to be considered ,if the basic amt is less than 6500 then actual amt is to taken for pf calculation. P.F is to be calculated not merely on Basic but on basic+ D.a + retaining allowance. if any. If minimum wages paid are Rs.6500/- or less, you have to pay contribution on it.
Jun 9, 2018 · If the BP is less that Rs.15000, 12% of all components except HRA. If the BP is more than Rs.15000, the contribution is restricted to Rs. 1800. 15th June 2018 From India. jil.rksingh. 4. If bp + DA less than 15k cont. Calculated on 10 or 12 % on actual basis . If bp + DA @ more than 15k and if employer following minimum slab of EPF/EPS it ...
