My CTC is 5,24,000 (52000 Mnthy)
Total Days : 31.00 (October)
LOP (Loss of Pay) : 0.50
Work days : 31.00
Effective Work days : 30.50
These all are according to 30.5 days.
I am contributing minimum pf of 12% which is 1800, which was 780 earlier.
30.5 days salary is 51161 and 40% basic is 20465. what I suppose, me an my employer ( contributing 1800 monthly (12% of 15000) which is 3600. But still there is some unclear amount is deducted.
20465+10232+787+10478+7010 = 48972 - 51161 = 2189 - EMPLOYER PF contribution 1800 ( 2189 - 1800) = 389 why this extra money has been deducted.
I want to know how much is my employer contribution in pf and how this other allowance is calculated. I thought the amount left after basic, HRA, conveyance and FBP is considered as Other allowance?
please help me to understand this calculation I am little confused now.
BASIC 20465.00
HRA 10232.00
CONVEYANCE 787.00
TAXABLE FBP 10478.00
OTHER ALLOWANCE 7010.00
Deductions:
LABOUR WELFARE FUND 10.00
PF 1771.00
Total Earnings : Rs. 48972.00
Total Deductions : Rs. 1781.00
Net Pay : Rs. 47191.00
From India, Faridabad
Total Days : 31.00 (October)
LOP (Loss of Pay) : 0.50
Work days : 31.00
Effective Work days : 30.50
These all are according to 30.5 days.
I am contributing minimum pf of 12% which is 1800, which was 780 earlier.
30.5 days salary is 51161 and 40% basic is 20465. what I suppose, me an my employer ( contributing 1800 monthly (12% of 15000) which is 3600. But still there is some unclear amount is deducted.
20465+10232+787+10478+7010 = 48972 - 51161 = 2189 - EMPLOYER PF contribution 1800 ( 2189 - 1800) = 389 why this extra money has been deducted.
I want to know how much is my employer contribution in pf and how this other allowance is calculated. I thought the amount left after basic, HRA, conveyance and FBP is considered as Other allowance?
please help me to understand this calculation I am little confused now.
BASIC 20465.00
HRA 10232.00
CONVEYANCE 787.00
TAXABLE FBP 10478.00
OTHER ALLOWANCE 7010.00
Deductions:
LABOUR WELFARE FUND 10.00
PF 1771.00
Total Earnings : Rs. 48972.00
Total Deductions : Rs. 1781.00
Net Pay : Rs. 47191.00
From India, Faridabad
Dear Rahul,
Your ctc is 52000 - you cannot get exact net salary by just calculating - (52000/31 * 30.5 = 51161) - This is not the right way.
Is 40% Basic - Rs.20465 is fixed or calculated as per attendance?
Please Compute all your fixed components as per your attendance.
Fixed Basic / 31 * 30.5
Fixed HRA / 31 * 30.5
Fixed Convy / 31 * 30.5
Fixed Tax FBP / 31 * 30.5
Fixed Other All / 31 * 30.5
Deductions;
Lab fund
PF (it is fixed since your basic is above 15000) - it should be 1800 only and not 1771 - You can clarify this with the account department.
Gross - Total of calculated Basic, Hra, Cony, Tax FBP and other allow
Deduction - Pf and lab. fund
Net Pay - Gross - deduction
Regards,
Sanjukta
From India, Mumbai
9Your ctc is 52000 - you cannot get exact net salary by just calculating - (52000/31 * 30.5 = 51161) - This is not the right way.
Is 40% Basic - Rs.20465 is fixed or calculated as per attendance?
Please Compute all your fixed components as per your attendance.
Fixed Basic / 31 * 30.5
Fixed HRA / 31 * 30.5
Fixed Convy / 31 * 30.5
Fixed Tax FBP / 31 * 30.5
Fixed Other All / 31 * 30.5
Deductions;
Lab fund
PF (it is fixed since your basic is above 15000) - it should be 1800 only and not 1771 - You can clarify this with the account department.
Gross - Total of calculated Basic, Hra, Cony, Tax FBP and other allow
Deduction - Pf and lab. fund
Net Pay - Gross - deduction
Regards,
Sanjukta
From India, Mumbai
Thanks for your reply Sanjukta.....well all the figures I have mentioned are according to my pay stub and calculated as per 30.5 days. I have mentioned as it is.
520000/31 = 1677.41 (Salary of 1 day)
My loss of pay is .50 - Total Number of days present - 30.5*1677.41 = 51161.00
The reason of confusion is some of the figures if not mentioned In my salary what normally employers do eg. Employers contribution of PF.
(Earnings) (Deductions)
BASIC 20465.00 (for 30.5 days) PF 1771.00
LABOUR WELFARE FUND 10.00
HRA 10232.00 (50% of Basic)
CONVEYANCE 787.00 (for 30.5 Days out of 800)
TAXABLE FBP 10478.00 (for 30.5 days out of 10650)
OTHER ALLOWANCE 7010.00 (for 30.5 days out of 7125) ( Confusion) how this amount is calculated?????????????????????????????????????
Total Earnings : Rs. 48972.00 - Total Deductions : Rs. 1781.00
Except all these figures, nothing has been mentioned
From India, Faridabad
520000/31 = 1677.41 (Salary of 1 day)
My loss of pay is .50 - Total Number of days present - 30.5*1677.41 = 51161.00
The reason of confusion is some of the figures if not mentioned In my salary what normally employers do eg. Employers contribution of PF.
(Earnings) (Deductions)
BASIC 20465.00 (for 30.5 days) PF 1771.00
LABOUR WELFARE FUND 10.00
HRA 10232.00 (50% of Basic)
CONVEYANCE 787.00 (for 30.5 Days out of 800)
TAXABLE FBP 10478.00 (for 30.5 days out of 10650)
OTHER ALLOWANCE 7010.00 (for 30.5 days out of 7125) ( Confusion) how this amount is calculated?????????????????????????????????????
Total Earnings : Rs. 48972.00 - Total Deductions : Rs. 1781.00
Except all these figures, nothing has been mentioned
From India, Faridabad
Sorry I hit enter without completing it.
Thanks for your reply Sanjukta.....well all the figures I have mentioned are according to my pay stub and calculated as per 30.5 days. I have mentioned as it is.
520000/31 = 1677.41 (Salary of 1 day)
My loss of pay is .50 - Total Number of days present - 30.5*1677.41 = 51161.00
The reason of confusion is some of the figures if not mentioned In my salary what normally employers do eg. Employers contribution of PF.
(Earnings) (Deductions)
BASIC 20465.00 (for 30.5 days) PF ------------------------------------------1771.00
HRA 10232.00 (50% of Basic) LABOUR WELFARE FUND ---------- 10.00
CONVEYANCE 787.00 (for 30.5 Days out of 800)
TAXABLE FBP 10478.00 (for 30.5 days out of 10650)
OTHER ALLOWANCE 7010.00 (for 30.5 days out of 7125) ( Confusion) how this amount is calculated?????????????????????????????????????
Total Earnings : Rs. 48972.00 - Total Deductions : Rs. 1781.00
Take Home - 47191.00
Except all these figures, nothing has been mentioned. I contribute 400 for medical (Not mentioned in slip) and employers PF contribution (Not mentioned).
My questions -
1) How much is my employer contribution (as it is not mentioned in pay slip) in PF 1800 or 1171 (same as my share in pf) ???????
2) What other things are included in other allowance and how it is calculated ?
3) Is there any possibility that my employer still contributing 780 even after ceiling limit of 15000.
From India, Faridabad
Thanks for your reply Sanjukta.....well all the figures I have mentioned are according to my pay stub and calculated as per 30.5 days. I have mentioned as it is.
520000/31 = 1677.41 (Salary of 1 day)
My loss of pay is .50 - Total Number of days present - 30.5*1677.41 = 51161.00
The reason of confusion is some of the figures if not mentioned In my salary what normally employers do eg. Employers contribution of PF.
(Earnings) (Deductions)
BASIC 20465.00 (for 30.5 days) PF ------------------------------------------1771.00
HRA 10232.00 (50% of Basic) LABOUR WELFARE FUND ---------- 10.00
CONVEYANCE 787.00 (for 30.5 Days out of 800)
TAXABLE FBP 10478.00 (for 30.5 days out of 10650)
OTHER ALLOWANCE 7010.00 (for 30.5 days out of 7125) ( Confusion) how this amount is calculated?????????????????????????????????????
Total Earnings : Rs. 48972.00 - Total Deductions : Rs. 1781.00
Take Home - 47191.00
Except all these figures, nothing has been mentioned. I contribute 400 for medical (Not mentioned in slip) and employers PF contribution (Not mentioned).
My questions -
1) How much is my employer contribution (as it is not mentioned in pay slip) in PF 1800 or 1171 (same as my share in pf) ???????
2) What other things are included in other allowance and how it is calculated ?
3) Is there any possibility that my employer still contributing 780 even after ceiling limit of 15000.
From India, Faridabad
My Answers:
1) How much is my employer contribution (as it is not mentioned in pay slip) in PF 1800 or 1171 (same as my share in pf) ???????
For more details on this please check this site - Basics of Employee Provident Fund: EPF, EPS, EDLIS | Be Money Aware Blog
And did you got the amount - 1171?
2) What other things are included in other allowance and how it is calculated ?
Fixed Other Allowance is 7125 , (7125/31*30.5 = 7010)
3) Is there any possibility that my employer still contributing 780 even after ceiling limit of 15000.
Ofcourse, if employer is deducting from you then employer is also contributing the same in your pf account only.
Employers PF contribution amount is never showed on pay slip.
You can ask for the PF statement from the company, usually company gives it to the employee after every quarter, but once they receive the acknowledgement from the government.
You must be knowing about your pf account, if not it is mentioned on salary slip, else you can ask from accounts / admin departments.
And you can check your pf account online also.
-- Medical Contributions
Amount of 400, I assume that company has contract with outside medical Insurance co.
In that case, it is paid from your salary then it can be shown in salary slip under deductions.
Hope this has cleared your doubts.
Regards,
Sanjukta
From India, Mumbai
1) How much is my employer contribution (as it is not mentioned in pay slip) in PF 1800 or 1171 (same as my share in pf) ???????
For more details on this please check this site - Basics of Employee Provident Fund: EPF, EPS, EDLIS | Be Money Aware Blog
And did you got the amount - 1171?
2) What other things are included in other allowance and how it is calculated ?
Fixed Other Allowance is 7125 , (7125/31*30.5 = 7010)
3) Is there any possibility that my employer still contributing 780 even after ceiling limit of 15000.
Ofcourse, if employer is deducting from you then employer is also contributing the same in your pf account only.
Employers PF contribution amount is never showed on pay slip.
You can ask for the PF statement from the company, usually company gives it to the employee after every quarter, but once they receive the acknowledgement from the government.
You must be knowing about your pf account, if not it is mentioned on salary slip, else you can ask from accounts / admin departments.
And you can check your pf account online also.
-- Medical Contributions
Amount of 400, I assume that company has contract with outside medical Insurance co.
In that case, it is paid from your salary then it can be shown in salary slip under deductions.
Hope this has cleared your doubts.
Regards,
Sanjukta
From India, Mumbai
Sanjukta,
For doubt 1 @ PF,
1. As PF is capped at Rs. 1800/-, 0.5 absent days effect is given on Rs. 1800/- and not on Basic Rs.20465.
This method is followed for providing Pro-rata effect (calculating Actual based on Attendance) uniformly on all earnings and deductions.
2. Also the pro-rata effect is applied to all the employees should be uniform.
If employee's Basic is Rs. 10,000/- and employee is absent for 0.5 days, calculations would be
Basic - 9839
PF - 1181
There must be identical treatment to 0.5 absenteeism for employees with Basic more than Rs. 15000 and PF is capped at Rs.1800.
3.If an employee is joined on 15th of a month and having Basic Rs, 30,000/-.
In this scenario, Basic paid will be Rs. 15,000/- and PF should be Rs. 900/- (not Rs. 1800/-)
This scenario can also be applied if an employee is separated on 15th of a month.
From India, Mumbai
For doubt 1 @ PF,
1. As PF is capped at Rs. 1800/-, 0.5 absent days effect is given on Rs. 1800/- and not on Basic Rs.20465.
This method is followed for providing Pro-rata effect (calculating Actual based on Attendance) uniformly on all earnings and deductions.
2. Also the pro-rata effect is applied to all the employees should be uniform.
If employee's Basic is Rs. 10,000/- and employee is absent for 0.5 days, calculations would be
Basic - 9839
PF - 1181
There must be identical treatment to 0.5 absenteeism for employees with Basic more than Rs. 15000 and PF is capped at Rs.1800.
3.If an employee is joined on 15th of a month and having Basic Rs, 30,000/-.
In this scenario, Basic paid will be Rs. 15,000/- and PF should be Rs. 900/- (not Rs. 1800/-)
This scenario can also be applied if an employee is separated on 15th of a month.
From India, Mumbai
Well after few calculations is got the exact figures. All this confusion were created by amounts which are now shown in the salary slip.
To calculate with LOP Here is simple formula ( Amount X Number of days employee present divided by total number of days)
20800x30.5/31 (Here month is of 31 days and lop is 0.5) = 20464.51 round off to 20465.00 OR 52000x30.5/31 = 51161.29 x40% basic = 20464.51 (20465)
Here is salary calculation with zero loss of pay.
Gross - 52000.00
BASIC 20800.00 PF - 1800
HRA 10400.00 Labour Welfare Fund - 10.00
CONVEYANCE 1600.00 (As revised in 2015, Earlier it was 800)
TAXABLE FBP 10650.00
OTHER ALLOWANCE 5825.00
These are the figures that were not mentioned in salary slip
Employer pf Contribution - 1800.00
Medical - 425.00
Parental Insurance 500.00
Other allowance - 20800+1400+1600+10650 Minus (-) 52000.00 = 8550
8550 (Minus)- 1800 + 425 + 500 = 5825
Thanks
Rahul
From India, Faridabad
To calculate with LOP Here is simple formula ( Amount X Number of days employee present divided by total number of days)
20800x30.5/31 (Here month is of 31 days and lop is 0.5) = 20464.51 round off to 20465.00 OR 52000x30.5/31 = 51161.29 x40% basic = 20464.51 (20465)
Here is salary calculation with zero loss of pay.
Gross - 52000.00
BASIC 20800.00 PF - 1800
HRA 10400.00 Labour Welfare Fund - 10.00
CONVEYANCE 1600.00 (As revised in 2015, Earlier it was 800)
TAXABLE FBP 10650.00
OTHER ALLOWANCE 5825.00
These are the figures that were not mentioned in salary slip
Employer pf Contribution - 1800.00
Medical - 425.00
Parental Insurance 500.00
Other allowance - 20800+1400+1600+10650 Minus (-) 52000.00 = 8550
8550 (Minus)- 1800 + 425 + 500 = 5825
Thanks
Rahul
From India, Faridabad
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