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Hi Seniors, I have a doubt bases on Calculation of Interest Rate 8.65%
Per Month Contribution:
Employee Share PF Contribution - Rs. 672
Employer Share PF Contribution - Rs. 206
Pension Contribution - Rs. 466
Even after 5 months of contribution I got below interest amount.
Interest Updated upto 31.03.2017
Employee Share Interest amount Rs.48
Employer Share Interest amount Rs.15
Interest Amount for Pension Contribution is Rs.0
Why no interest for Pension Contribution?
Kindly guide me for calculating Interest Amount.
Thank You.
From India, Chennai
Dear Ranjeetha MP,
Employer & employee shares in PF belongs to the Member. Hence when it is deposited with EPFO, they have to give interest to members. But members have no claim on pension fund. It is EPFO's property. Members can claim either pension or withdrawal benefit, as the case may be. It have no connection with the deposit; but depends upon the service, last drawn average salary etc.
Abbas.P.S
From India, Bangalore
Dear Ranjeetha,
The interest calculation is shown in the attached sheet, as per details provided by you.
Mr. Abbas has already intimated you other details.
Thanks,
Vidyadhar Bhat
From India, Pune

Attached Files
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File Type: xls EPF Interest calculation.xls (30.5 KB, 379 views)

Anonymous
Dear Sir,
Thank you so much Abbas Sir and Vidyadhar Bhat Sir for your explanation through Excel sheet.
Thanks,
Ranjeetha.MP
From India, Chennai
Anonymous
Dear Sir,
Thank you so much Abbas Sir and Vidyadhar Bhat Sir for your explanation through Excel sheet.
Thanks
From India, Chennai
Hi,
I have attached a PF calculation sheet for your reference. I would also like to introduce you to greytHR https://www.greythr.com/payroll-software/ an HR and payroll cloud software. greytHR helps to perform all the PF related tasks with a lot of ease, employee's can view complete information related to PF. It offers a 30 day free trial period.
From India, Bengaluru

Attached Files
Membership is required for download. Create An Account First
File Type: xls PF, ESI Calculation.xls (11.5 KB, 154 views)

Dearsir
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MY FATHER'S NAME MYSTIC SHWO. Ravindra
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HELP
From India, Delhi



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