Suppose I have monthly wages of Rs 12000 and number of days I was present is 20 in the month of April. Basic is 50% of Gross salary.
Answer 1:
PF contributed from Employee end = 12% of (50% of 12000) = Rs 720
Answer 2:
PF contributed from Employee end = 12% of [50% of (20/30 *1200)] =Rs 480
Which one is it? Answer 1 or Answer 2

From India, Ratlam

To clarify, PF is attracted on Basic, DA and Retaining Allowances if any so it is not limited to Basic Pay (50%). Next, PF is attracted on the wages actually earned in the month, not the deemed monthly full wages.
From India, Mumbai
PF amount will be calculated on the salary processed for the month thus if you are present for X number of days then your salary will be calculated for those many number of days only and same with PF also.

The second working is more closer to correct figure.
However, for computing the number of days present, you need to divide by 26 and not by 30, because weekly offs are paid holidays and the same needs to be absorbed by the working days. This is in line with supreme court guidelines.

From India, Mumbai

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