What will be possible PF Employer and PF Employee contributions when my monthly gross is of 50,000 with distribution as follows:(when 1.16% of additional is allowed and not allowed under EPS schemes)
Say, Monthly CTC :50,000 /-
Basic:20,000
HRA:10,000
Medical:1,250
LTA:1,600
Conveyance:3,000
Food Coupons:3,000
Special:11,150
Total:50,000
PF- Employee: 2,400
PF-Employer :2,400
Can some help me in projecting the values for PF Employer (EPF,EPS,EDLI Admin Charges When 1.16% of additional is allowed to pension scheme and not allowed to pension scheme cases).
employees 2400/ is direct credit to a/c no 1
employer contribution is split 1250/- in a/c 10 and balance 1150 in a/c 1
EDLI @0.5 % is auto calculated by portal edli salary is 15000/- so is the EPF salary so EDLI contribution would be 75/-
Admin charges are now 0.5% and comes to 20000*0.5/100 = 100 ( subject to minimum payment of 500/- per month per establishment for all employees accumulated)
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