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
Acknowledge(0)
Amend(0)
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
Acknowledge(0)Amend(0)
Dear Nitya, Wages for calculation of PF = 12% of Basic+DA+RA(Retention allowance) to the maximum of Rs.6500/-
From India, Mumbai
Acknowledge(0)Amend(0)
24From India, Mumbai
Acknowledge(0)Amend(0)
PF Contribution Components
Components for PF contribution include Basic, DA, and all other allowances, including monthly incentives, except HRA, OT, Bonus, and allowances for Washing, Food, and TA. This is subject to the ceiling of Rs. 6500. This information is provided by the PF Office. Although the Act stipulates that the contribution is on Basic + DA + Retaining Allowance, PF Officials insist on the above-mentioned components to bring the wages up to Rs. 6500.
Regards,
Usuf Chennai
16 May 2013
From India, Madras
Acknowledge(1)Amend(0)
Components for PF contribution include Basic, DA, and all other allowances, including monthly incentives, except HRA, OT, Bonus, and allowances for Washing, Food, and TA. This is subject to the ceiling of Rs. 6500. This information is provided by the PF Office. Although the Act stipulates that the contribution is on Basic + DA + Retaining Allowance, PF Officials insist on the above-mentioned components to bring the wages up to Rs. 6500.
Regards,
Usuf Chennai
16 May 2013
From India, Madras
Acknowledge(1)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
SALARY with out PF Deduction.xls
Salary & Compensation Guidelines.zip