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Basic salary+DA = 50000 then how calculate contribution according employer
3rd August 2018 From India, Lucknow
it is above ceiling limit no need calculate contribution of PF
3rd August 2018 From India, Ahmedabad
but he/she recently joined with you and previous employment of he/she member of PF so, we have to deduct and contribute PF.
3rd August 2018 From India, Ahmedabad
There are two ways, one to give PF on Rs 50000, ie, on the basic and DA without restricting the PF qualifying salary to Rs 15000. another way is to pay it only on Rs 15000. For that you have to provide one more column in the payroll sheet for "PF Qualifying salary" in which you can put 15000 which will ultimately be taken to find out the PF contribution.
Nowhere in the PF Act it is stated that you should not pay contribution on salary above Rs 15000 and most of the good companies follow the practice of paying it on higher salary. Only thing is that pension fund contribution of 8.33% by the employer is restricted to 8.33% of 15000.
4th August 2018 From India, Kannur
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