HELLO FRIENDS !
WILL U PLZ LET ME UNDERSTAND AS TO
A. WHETHER BASIC PAY IS ALWAYS 30 % OF GROSS SALARY .
B. WHETHER CONTRIBUTION TO EPF OF AN EMPLOYEE CAN NEVER BE LESS IF HE GETS LESS BASIC PAY/GROSS SALARY IN HIS NEW COMPANY
Awaiting reply from my HR experts,
Thanks & Regards
From India, Kolkata
2WILL U PLZ LET ME UNDERSTAND AS TO
A. WHETHER BASIC PAY IS ALWAYS 30 % OF GROSS SALARY .
B. WHETHER CONTRIBUTION TO EPF OF AN EMPLOYEE CAN NEVER BE LESS IF HE GETS LESS BASIC PAY/GROSS SALARY IN HIS NEW COMPANY
Awaiting reply from my HR experts,
Thanks & Regards
From India, Kolkata
both concept is wrong
BASIC + DA + all other allowances, which are regular in nature, except HRA and Medical are subject to EPF ( capping of 15000 may be maintained by the employer)
EPF is deducted actual earnings by basic+ DA + others, if DA gets variable , then almost every quarter it get changed, in case of LOP or unpaid leave also the pay get lower and so is the EPF contribution.
BASIC + DA + all other allowances, which are regular in nature, except HRA and Medical are subject to EPF ( capping of 15000 may be maintained by the employer)
EPF is deducted actual earnings by basic+ DA + others, if DA gets variable , then almost every quarter it get changed, in case of LOP or unpaid leave also the pay get lower and so is the EPF contribution.
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Salary Break Up - Performance Pay.xls
