PRIME SPONSOR - FACTOHR - Customised Payroll, GPS Enabled Attendance, Travel, Performance Management, HRMS. Explore Features
I would like to clarify if there is any act or guideline to state how the salary split up components should be for Manufacturing SME Industry Tamil Nadu.
My primary query here is PF deducted should be considered for what salary componenet ; is it only Basic or any other heads also?
Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
Dear Nitya, Wages for calculation of PF = 12% of Basic+DA+RA(Retention allowance) to the maximum of Rs.6500/-
Components for PF contribution
Basic, DA, all other allowances including monthly incentive except HRA, OT, Bonus, Allowances of Washing, Food and TA) subject to the ceiling of Rs.6500.
This is what is informed by PF Office. Even though the Act stipulates that contribution is on Basic + DA + Retaining Allowance, PF Officials insist what is mentioned above in order to bring the wages upto Rs.6500.
Usuf Chennai
16 May 2013
PRIME SPONSOR - TALENTEDGE "Interactive Anywhere Learning". Executive courses from top reputed institutes like IIM, XLRI, MICA. View Courses
Add Reply Start A New Discussion

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2019 Cite.Co™