i've 3 employees, who have basic salary more than 6500/-rs. & they are 16000, 14000 & 8000 respectively. I deduct the employer share on their basic salary, now my question is that on what amount should I deduct the employee pension fund which has max. limit of 541/-rs.
Assume that if employee A has basic salary of 16000/- rs. & has attendance of 28 days in April month. so employer share deduct on 16000/30*28 = 14933/- rs. but for employee pension fund, on what amount should I deduct 8.33%.
On max limit 6500/- or 6500/30*28 = 6067 on this amount.
also help me, how can we put employee for the wage month april-2012 & how can provide new PF no.
respected seniors plz reply me soon with clarification
thanx & regards,
19th May 2012 From India, Faridabad