All,
I would like to clarify if there is any act or guideline to state how the salary split components should be for Manufacturing SME Industry in Tamil Nadu.
My primary query here is: should PF deductions be considered for what salary component; is it only Basic or any other heads also?
Thanks,
Nitya
From India, Bangalore
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I would like to clarify if there is any act or guideline to state how the salary split components should be for Manufacturing SME Industry in Tamil Nadu.
My primary query here is: should PF deductions be considered for what salary component; is it only Basic or any other heads also?
Thanks,
Nitya
From India, Bangalore
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Dear Nitya, Wages for calculation of PF = 12% of Basic+DA+RA(Retention allowance) to the maximum of Rs.6500/-
From India, Mumbai
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24From India, Mumbai
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Gentlemen,
Components for PF contribution: Basic, DA, all other allowances including monthly incentive except HRA, OT, Bonus, and Allowances of Washing, Food, and TA, subject to the ceiling of Rs. 6500. This is what is informed by the PF Office. Even though the Act stipulates that the contribution is on Basic + DA + Retaining Allowance, PF Officials insist on the above-mentioned components in order to bring the wages up to Rs. 6500.
Usuf Chennai
16 May 2013
From India, Madras
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Components for PF contribution: Basic, DA, all other allowances including monthly incentive except HRA, OT, Bonus, and Allowances of Washing, Food, and TA, subject to the ceiling of Rs. 6500. This is what is informed by the PF Office. Even though the Act stipulates that the contribution is on Basic + DA + Retaining Allowance, PF Officials insist on the above-mentioned components in order to bring the wages up to Rs. 6500.
Usuf Chennai
16 May 2013
From India, Madras
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SALARY with out PF Deduction.xls
Salary & Compensation Guidelines.zip