Abbasiti
Assistant Engineer, Indian Telephone Industries,
Vidyadhar Bhat
Consultancy In Pf
Samuel R
Digital Marketing
Amitsinghak2020
Provident Found

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.
4th August 2017 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
4th August 2017 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
8th August 2017 From India, Pune

Attached Files
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File Type: xls EPF Interest calculation.xls (30.5 KB, 1649 views)

#Anonymous
Dear Sir,
Thank you so much Abbas Sir and Vidyadhar Bhat Sir for your explanation through Excel sheet.
Thanks,
Ranjeetha.MP
18th August 2017 From India, Chennai
#Anonymous
Dear Sir,
Thank you so much Abbas Sir and Vidyadhar Bhat Sir for your explanation through Excel sheet.
Thanks
19th August 2017 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.
12th September 2017 From India, Bengaluru

Attached Files
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File Type: xls PF, ESI Calculation.xls (11.5 KB, 1611 views)

Dearsir
My name Anit kumar s/o Ratan singh
My company. India Yamaha motor surajpur greater noida up
My UAN. 100978944644
MY FATHER'S NAME MYSTIC SHWO. Ravindra
PLEAS WRITE
HELP
16th September 2017 From India, Delhi
In the EPF calculator, we have used the 1st method for computing the employee and the employer contribution. Just to understand our methodology, let us take the following case:
1. Employees' Basic Pay + DA: Rs 25000
2. Employee contribution towards EPF: 12%*25000 = Rs 3000
3. Employer contribution towards EPF = 3.67% of 25000 = 3.67%*25000 = Rs 917.50.....(A)
4. Employer contribution in Employee Pension Scheme (EPS): 8.33% * 15000 = Rs 2082.50 .....(I)
ID – Paytek, a payroll software designed by experts keeping in mind the essential needs of organizations is a very powerful HR management tool that takes care of all core HR activities in an organization.
Regards
Abid
https://www.idbssoftware.com/hr-payroll-software.php
13th February 2018 From India, Bengaluru
Dear Sir,
There should be few corrections towards contribution.
EPS contribution is to be restricted to Rs. 1250/- ( Max . wages Rs. 15000 ) and diff amount will go to Company contribution.
In the specimen you are writing EPS wages as 15000, but calculatiog on 25000/- as Rs. 2082.50
Rest all will be entered in the excel file in EPF Interest calculation.
Thanks,
Vidyadhar Bhat
14th February 2018 From India, Pune
Nice question.
<a href="https://factohr.com" title="payroll software">Payroll Software</a>
11th August 2018 From India, Rajkot
For detailed answer visit:
https://factohr.com
11th August 2018 From India, Rajkot
For calculation of contribution to ESI we should use ROUNDUP function in Excel, otherwise it will not tally with amounts shown by ESI System.
=roundup(gross_salary*1.75%,0).
There is a problem with Employer's contribution-
- After uploading the excel sheet, the system displays total contribution by employee & employer. It is easy to check employee contribution.
-But there is no way of matching employeewise contribution made by the employer before payment of the challan.
-It is only after payment that I can download the details
Any solution to this will be appreciated
9th September 2018 From India, Bidar
Dear, Please note that Employer Contribution is payable on Gross ESI Wages (Inclusive of Gross Wages of all ESI Covered Employees)
before uploading the data in the portal, Calculate approximate Employer Share of Contribution @4.75%. The portal is programmed to calculate accurately.you have to round off Employee & Employer Contribution to the nearest Rupee before uploading the data
9th September 2018 From India, New Delhi
Hi all,
Interest rate of EPF a/cs being hiked from 8.55% to 8.65%. Notification awaited.
21st February 2019 From India, Bangalore
The EPFO sent out instructions to all regional offices to supply detailed working sheet of settlement from EPF a/cs. Read the circular attached.
26th March 2019 From India, Bangalore

Attached Files
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File Type: pdf PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf (88.5 KB, 127 views)

I am not understanding how Pf is calculated so please do anyone help me?
19th April 2019 From India, undefined
#Anonymous
Hi Mrunali,
PF is calculated on Basic salary of the Employee
Employee contribution 12% and Employer contribution 12% (3.67% - EPF and 8.33% - Pension)
Employee contribution - 12/100*8000 - 960/- per month
Employer contribution - 3.67/100*8000 = 293.6
- 8.33/100*8000 = 666.4
- 960 /- per month
Regards
22nd August 2019
#Anonymous
Hi Mrunali,
PF is calculated on Basic salary of the Employee
Employee contribution 12% and Employer contribution 12% (3.67% - EPF and 8.33% - Pension)
For example Basic salary - 8000/-
Employee contribution - 12/100*8000 - 960/- per month
Employer contribution - 3.67/100*8000 = 293.6 , 8.33/100*8000 = 666.4 then Employer PF 12% = 960 /- per month
Regards
22nd August 2019
Epf interest calculated on simple interest basis or compound interest basis. Is there any rule/circular/notification in this regard.
3rd September 2019 From India, Chennai
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