The ceiling for PF deduction is on Rs. 6500/- i.e. till 6500 basic it is mandatory to deduct PF on lesser or equal to 6500 basic.
and 12% of 6500 is 780. Therefore at times it is 12% and at times (when basic is 6500 or basic is higher, but on the mutual consent of employer or employee it is decided to deduct on 6500 basic) the PF amount is 780.
I hope am able to clear your doubts.
From India, Calcutta
Here is the break up for Pf Calculation,
PF is Calculated on basic & DA as under
Employer contribution - 13.61%( Break Up - EPF-3.67%,FPS -8.33%,admin charges -1.1%,Edli -0.5% Admin Charges on Edli -0.01%).
Employee Contribution - 12 % (Break up -EPF -12%).
The higher limit for pf deductions is 6500/- and therefore above this limit deduction of pf is optional for employee but with the consent of employer & Pf Authorities
Thanks and warm regards,
From India, Vadodara
There is such rule or enactment to calculate the TaA and HRA.
Its depend upon the completely company policy.
mostly hra is 40 to 60 % of basic.
and travelling allowance 20 to 30 % of basic.
but you can set it as your company policy. as i said above you are restricted by any enactment regarding ta and hra.
From India, Chandigarh
Note : If employer and employee wish, the contribution can be at higher salary as well as higher rates.
From India, Bangalore
Notification of EPFO for extension of wage limit to INR 15000 is enclosed hereunder for your information please.
From India, Hyderabad