How Calculate Pf
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Dear Sir/Madam,I am working as a manager in the company, but I want to know if we should deduct the PF on minimum wages or less than that. If the minimum wage is 6098, then what is the minimum basic we can set on the same amount?With Regards,Ashutosh Kr. Upadhya...
If somebody's wages are Rs. 7500.00, he opts for the upper ceiling of Rs. 6500.00 for PF deduction. If in any month he is absent for 3 days and his basic wages stay at Rs. 6800.00 for that respective month, do we have to deduct PF at the rate of Rs. 6500.00, or ...
Dear Usha,Non-contributory periods are those days on which the employee is on leave without wages or LOP. You have to track the LOP days in the financial year and record them in Form 3A. This data is also required when you submit the claim for the pension.M.V. K...
@ashutosh.nepura:> Dear Sir/Madam,> > I am working as a manager in the company, but I want to know, should we deduct the PF on minimum wages or less than? If the minimum wage is 6098, then what is the minimum basic we can set on the same amount?> > With Regards,...
Dear Prasadu,Thank you, VGKVKM, for providing good information. Please give a little more explanation on this topic, i.e., contribution period and benefit period in the ESI Act.1\. Contribution periods under ESI are:- 1st April to 30th September, and the benefit...
Bharathi mam,I want the procedure for calculating the salary of an individual person. Please explain with some examples. I want to understand the process. Please help!
Dear Rajesh Kanna,After completion of 58 years of age, the contribution of 8.33% towards the pension scheme stops, and that same contribution should be diverted to the employer's contribution. This means the employer's contribution should be at 12% where 3.67% i...
@VGKNAIRVKM:> Dear Mr. Prasadu,> > I am sorry, Mr. Kiran is correct regarding the benefit period. When I replied quickly, I made a mistake.> > Gratuity is payable when an employee completes 5 years of continuous service. Continuous service includes their eligibl...
Dear Prasad,Difference between Gratuity and Superannuation fund:Superannuation is 15% of basic, and gratuity is 4.81% of the basic.Superannuation can be optional (you can opt in your hand salary as a special allowance which will be taxable) while gratuity is not...
Salary breakup is:Basic: 1000DA: 500HRA: 400Others: 1000Gross Salary: 2900For PF:**(Basic + DA) * 12% means: (1000 + 500) / 100 * 12 (same from the company) and other administrative charges 1.61%Max up to 6500/-For ESI:**Gross salary * 1.75%From employee salary ...