Hello Friends!
Will you please let me understand the following:
A. Is basic pay always 30% of gross salary?
B. Can an employee's contribution to EPF never be less if he receives less basic pay/gross salary in his new company?
Awaiting a reply from my HR experts.
Thanks & Regards
From India, Kolkata
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2Will you please let me understand the following:
A. Is basic pay always 30% of gross salary?
B. Can an employee's contribution to EPF never be less if he receives less basic pay/gross salary in his new company?
Awaiting a reply from my HR experts.
Thanks & Regards
From India, Kolkata
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Both concepts are 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 from actual earnings by basic + DA + others. If DA is variable, then almost every quarter it gets changed. In case of LOP or unpaid leave, the pay gets lower, and so does the EPF contribution.
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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 from actual earnings by basic + DA + others. If DA is variable, then almost every quarter it gets changed. In case of LOP or unpaid leave, the pay gets lower, and so does the EPF contribution.
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what is the meaning of gross salary as per pf ecr format . give example.
From India, Patna
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From India, Patna
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@CA.Dulipsingh for ECR format gross salary is the figure which is to be taken for calculation of TDS purpose / Profession tax slab
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Salary Break Up - Performance Pay.xls
Epf circular on full salary 230317 Pension on full salary as per SC order 23.3.2017.pdf