how does it calculate
is there any mandary % percentage formula from goverment of india
like x % of CTC is basic
x % of basic PF
x % of hra
x % of other allowance
My company deduct PF from my CTC how to calculate it then
my company gives education, and much other allowance in payslip
is there any percentage schemes if yes then how to get addition in those excel file
please let me know on
2nd November 2009 From India, Pune
I need some information on PF :
- What should be the minimum salary from which the PF is mandatory.
- What should be the maximum salary when PF becomes optional.
- what should be the employee strength of the organisation when PF becomes mandatory.
If anyone can give me information on the PF.
2nd November 2009 From India, Bangalore
There is not mandatory % mentioned by GOI,but GOI Stated few rules/Acts like Minimum wages Act,Labour welfare Act,others for salary schemes.
All the companies will follow it relying on the nature of work.
U have stated that your Company deducts PF From your CTC (Cost To Company)according to company policy.
CALCULATION OF YOUR CTC:
The CTC structure ,I think u have this details bcoz evry company will provide these details in the offer letter.
2nd November 2009 From India, Nizamabad
Thanks for the immediate reply.
But I thought minimum wages is Rs 3500/- gross salary.
When you say 6500 the basic does it mean it is 55% of the gross salary?
I understand that PF is applicable from a minimum salary of Rs 3500/- gross to Rs 6500/- gross salary.
Please guide me its confusing.
Pls reply me at
4th November 2009 From India, Bangalore