Hrsystem
1

Hi,
please anyone help on How to calculate edli charges?
i know it is 0.5 % but not sure whether it is from basic of employees or ceiling for rs.6500.
Please confirm the below example is correct.
if employee has basic 10000
employee share 12% - 1200
employers 8.33% on 6500 - 541
employers 3.37% on 6500 - 239
EDLI 0.5% on 6500 - 32
Admin charges 1.1% on 10000 - 110
EDLI admin charges 0.01% on 6500 - 1
Thanks in advance

From India, Pondicherry
sethupathy-s
65

Dear, Your Calculation is Correct. The Maximum Contribtion to EDLI is Rs.32.50 only. But many unexampted companies Calculate EDLI for the whole Basic. S.Sethupathy, Erode.
From India, Selam
Hrsystem
1

Dear Sethupathy,
thanks for your response.
Can you pls tell account headings payment split in challan.
i have been informed to do below calculation
for example if 5 employess have basic of 10000 each then
total A/C1 - full basic wages - 50000
total A/C10 - ceiling basic - 32500
is this right? pls clarify
Thanks
Thiru

From India, Pondicherry
sumitk.saxena
252

Dear sir,
The calculation should be :
EPF/EPS/EDLI sal- Rs. 10,000
A/c 1 (3.67 % + 12%)- 659+1200= 1859.
A/C 2 (1.1% of EPF sal)- 110
A/C 10-(8.33% of EPS sal)- 541
A/C 21-(0.5% of EPS/EDLI sal)-50
A/C 22-(0.01% of EDLI sal)-2
let us clerify the same
IN EPF The deductions beraing on employee salary should be 12% of the salary, the component consider for deduction should be (basic+da+food conc.if any and any other spl or undefined allowances)
The Employer Share of contribution for 12 % should be bifurcated in this way 3.67 % + 8.33%, the 3.67% should be difference of 12% (employee share)-8.33%(pension fund)
The Celing for caculation of 8.33% should be maximum of rs. 6500/-
The Celing for edli calcution should also be same but in a/c the minimum charge should be Rs.2/- and the minimum charge should be Rs.5 for a/c 2.
hope this whole will clear all doubts regarding calculation of epf accumulations.
thanks & regards,
From,
Sumit Kumar saxena,
+91-9899669071, 0120-4131277

From India, Ghaziabad
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