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arun-narayanan4628200
what are all the allowances that are taken into account when calculating the gross PF ?then illuminates the allowances
From India, Chennai
Madhu.T.K
4208

PF is payable on basic wages and dearness allowance. But the basic wages mean the total wages inclusive of all allowances paid as per contract of employment. The only exclusion is the house rent allowance. Whatever allowances you pay shall be part of PF qualifying wages if they are paid as per contract of employment. Even the HRA shall become part of wages if it is not paid as a compensatory allowance. But since he term house rent allowance is specifically excluded, you can exclude it. However, if the allowances make the gross salary exceeds Rs 15000, then you can restrict the contribution to the required percentage of Rs 15000.
From India, Kannur
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