Respected Seniors, If any employee has worked 20 days out of 26 days then what should be his PF contribution if his basic+da is Rs.7000/-. Please guide me. Santosh Singh Cell# 9935448880
From India, Lucknow
If you are contributing 12% on actual basic + DA,
Actual Basic + DA for month = 7000
Payable Basic + DA for working days = 20/26 * 7000 = 5385 (rounded off to nearest decimal)
PF is on pro-rata basis and so 12% of payable Basic + DA - 12% of 5385 = 646.2 rounded off to 646
If you are contributing to the max limit of 6500 pm as prescribed by act,
Monthly limit of basic + da = 6500
hence for 20 days it is = 20/26 * 6500 = 5000
thus pf for said period = 12% of 5000 = 600
Hope this helped.

From India, Mumbai

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2021 CiteHR.Comô

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server