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
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From India, Lucknow
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If you are contributing 12% on actual Basic + DA, the actual Basic + DA for the month is 7000. The payable Basic + DA for working days is calculated as 20/26 * 7000 = 5385 (rounded off to the nearest decimal). PF is on a pro-rata basis, so 12% of payable Basic + DA - 12% of 5385 equals 646.2, rounded off to 646.
If you are contributing to the maximum limit of 6500 per month as prescribed by the act, the monthly limit of Basic + DA is 6500. Therefore, for 20 days, it amounts to 20/26 * 6500 = 5000. Thus, PF for the said period is 12% of 5000, which equals 600.
Hope this helps.
From India, Mumbai
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379If you are contributing to the maximum limit of 6500 per month as prescribed by the act, the monthly limit of Basic + DA is 6500. Therefore, for 20 days, it amounts to 20/26 * 6500 = 5000. Thus, PF for the said period is 12% of 5000, which equals 600.
Hope this helps.
From India, Mumbai
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