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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.
PF is only calculated on basic salary of employee, and the said of 15,000 is accurate, basic means basic no other component can be include in this, as you mention HRA and DA and other allowences are difference from basic. only point to remember PF is calculation of Basic salary of the employee. 28th August 2018 From India, Hyderabad
Nov 29, 2014 · Pf Deduction On Lop - CiteHR. rajasreepmanoj. 2. 1. Hi, For 31 days if Basic 22000 then PF = 1800,but if he is present only for 18 days then how to calculate the PF? which is correct for 18 days basic =22000/31*18=12774 then PF = 12774*.12=1533. or for 18 days PF=1800/31*18*.12=1045. 29th November 2014 From India, Ernakulam.
Mar 21, 2020 · Similarly, clause (iv) of Section 2 (21) of the PBA,1965 excludes any bonus from the term "salary or wages". Since bonus is an additional payment payable at the end of the year based on the performance of the establishment it cannot be construed as an allowance payable with the wages of the employee at the end of the wage period.
Aug 18, 2023 · Dear Neha San, As per your query PF deduction will be calculate on paid days . If Employee paid days is 15 then PF contribution will be 900 as per calculation you shared . 1800/30)*15 days = 900. Thanks. Sushil Chaudhary.
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.
2.If the Basic salary is less than Rs 15000, then Pension Contribution would be 8.33% on Basic and Pf Contribution from the employer would be 3.67% on Basic, there will not be any difference amount to add the value to EPF (3.67%) If Basic is 10000/- (Less than Rs 15000) EPF Contribution from Employee : Rs 1200 (12% on Basic 10000) EPS ...
PF: 12% of basic salary (depends on attendence) ESI: 1.75% of gross Gratuity: 4.81% of basic. 27th January 2011 From India, Delhi. satyambhambri. 11. 4. First you have to calculate the Basic Salary which is approximately 50% of the CTC. PF calculate on the Basic. 12% for Employee Share for PF.
Employess Contribution:12% goes to PF amount only. PF Calculation Sheet: 1.Mention your location name if existing. 2.No of empls elidgible for PF. 3.PF salary ths is Basic + DA amount. 4.Emps contri 12% fix value. 5.Emplrs contri for PF Variable ( calculation has defined above) 6.Emplrs contri 8.33% fix value.
Oct 19, 2016 · Hi Rajeev', Basic + DA × 12% Only the calculation. if LOP, it will be reduced. Regards. , Suresh.R. 19th October 2016 From India, Chennai. Shrikant_pra. 264. 3. Input sheet for PF portal should have salary earned data, besides other data. 20th October 2016 From India, Mumbai.
