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We need a salary breakup as per CTC format including pf deduction as per new rules march 2019. we are including Basic+DA, HRA, Spl. All., Personal All., Other Allowance in total Gross Salary. As per new amendments how much allowances will be cover in PF.
Please guide.
Thanks & Regards
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- HRA would be exempt (without document max ceiling is 10000/- per year, and with rent agreemtn and pan card of landlord submission, the same would get allowed as per the location HRA percentile but can ot exceed 40% of basic in any case)
- Convayance will be exempted to the extent of 1600 x 12 or 10% of basic (whichever is lower)
- Food Vouchers are exempted
- Overtime payment is not part of basic
balance all components would get clubbed in basic salary for EPF purpose
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