Employee’s contribution to PF = 12% of Basic Salary subject to a maximum of Rs.780/- per month.
Employer’s contribution to PF = 12% of Basic Salary subject to a maximum of Rs.780/- per month.
12 % Employer contribution is segregated in to 2 parts
8.33 % in Pension
3.67% in PF
But Employees contribution of 12 % each month goes to PF.
Gratuity calculation = Monthly Salary * 15/26 * number of years of service
Maximum amount payable under the act is Rs. 3,50,000 (w.e.f. 24/9/1997)
Found This Useful? +Vote Up This Page Via Google.
Why Vote? User validation is extremely important for good content to prosper.
1263 views3 replies
Discuss problems with your peers without getting into personal specifics.
Access to years of discussion data available to everyone at no cost.