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Now if any employee previous basic salary is 6000 and now his basic salary is increased by 1000 in the month of May 14 which is applicable form the month of April 14. Now his basic salary is Rs. 7000. Then how much PF will be deducted from the salary including arrear of previous month.Will it be 12% of 6500 + (12% of 500 or 12% of 1000).
As per EPF Act, PF is applicable on Basic and DA @ 12 % , ESIC @ 1.75 % on total salary but excluding washing allowance subject salary and wages < 15000/-. CTC : Cost to the Comapny means all cost which is invested to the employees including PF 12 %, ESIC 1.75%, Gratuity 4.81 %, LTA, Medical (As per company policy), cost towards Leave (Paid Leave).
Nov 19, 2020 · There is no need to do a reverse engineering to find the EPF contribution on the basis of a fixed CTC. In deed the actual monthly salary is to be calculated on the basis of the attendance recorded for the month and based on it the employee share and an equal employer share of EPFO are to be reckoned, then the cumulative value is the CTC and not the other way round.
Dec 5, 2019 · In your case the Gross Wages is 13685 (12000+1685) from which Rs. 1640 (PF-1440+ PT-200) deducted and you are getting Rs. 12045/-. That is fine. Your CTC is Gross Wages-13685 + Other Benefits 2398 (458+500+1440) = 16083/-. The other Salary Slip is just showing Gross Salary, deduction and Take Home salary.
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 ...
Simple rule: PF is on Basic + DA earned in that particular months. ESIC is on Gross Salary earned in that particular month. Bonus is 8.33% on (Basic + DA) earned in that particular Month. Gratuity is 4.17% on (Basic + DA) earned in that particular Month (It will be paid at the time of F & F settlement for those who worked for more than 5 Years).
Apr 30, 2011 · Salary sheet format in Excel EPF AND ESIC - Download - CiteHR. jitendra-kumar3422569. 1. Salary sheet format in Excel EPF AND ESIC. 6th October 2023 From India, Indore. Attached Files (Download Requires Membership) wages_sheet_xvii.xls (159.5 KB, 40 views) Add Reply → Start New →.
Apr 23, 2022 · 1) PF deduction is mandatory in respect of employees who's wages/salary is less than or equal to Rs.15000/-. 2) Where basic salary is more than Rs.15000/-, for the purpose of pf contribution we can restrict the basic wages to Rs.15000/-. Community Support and Knowledge-base on business, career and organisational prospects and issues - Register ...
5-Track Income Tax of All Employee. 6-Print out Leave History of Employee. 7-Overtime Monitor. 8-Master Data sheet of All Employees. 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%.
May 29, 2017 · our organisation 21 employee and deducted pf last 5 year ago. 10 employee out of 21 is basic salary 10190 and da 7000 toatl salary more then 35000/- our organisation deduct pf @12% amount of basic salary rs 10190 . its is correct and wrong. 30th May 2017
