Ravi5554
Asst.manager -hr
Suneel.bommena
Accountant

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Hi Sir/ Madam , Please suggest how to deduct EPF. Our employees salary is more than 25000 per month, Need to calculate on Basic + all Allowances - HRA or Only on Basic 12%.
From India, Hyderabad
Dear Friend,
Keep you basic capped at 15000 (including all allowances except HRA) and calculate @ 12%.
If your employee Baisc is more than 25,000 then your calculation will be capping @ 15000*12% =1800.

From India, Mumbai
Hi Ravi,
We are deducting on basic 12%(unrestricted ), so their is no capping of 15000.
effective new rule of judgement on EPF , should we deduct on Basic + All Allowances - HRA or
only on Basic 12%
Thanks

From India, Hyderabad
Dear Freind, Basic+all allowances( except HRA) will consider for PF deduction of 12%.
From India, Mumbai
If the Basic is less than 15,000/- per month, then PF deduction will be on (Monthly gross -HRA) . But if Basic is 15,000/- or more per month no need to add all allowances except HRA as PF authority controls up to 15,000/- Basic per month.
If the Organization decides to pay on higher side PF Contribution, they may follow same formula for all.( Monthly gross -HRA).
Thanks & Regards,
S K Bandyopadhyay (Howrah, WB)
+91 98310 81531

From India, New Delhi
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™