Hello Francis,
Hope you are already cleared your query about gross salary from the above members discussions.What else here i would like to inform you about P.F :
There are two (2) cases to be considered for PF formulation.They are as follows :
(1) LIMITED P.F : here the Provident Fund's limit is fixed by the government that is 6,500(mandatory).Again by considering the following two(2) cases :
(A) If the basic salary is more than Rs 6,500,then 6,500*12%
(B) If the basic salary is less than Rs 6,500,then whatever the basic *12%,gives you the Pf contribution amount.
(2) UNLIMITED P.F : here the company fix the statutory limit for the PF,that is whatever the basic salary *12%
Hope the above will help you somehow by clearing your query about Provident Fund.
Regards
SATYAJEET.
Hope you are already cleared your query about gross salary from the above members discussions.What else here i would like to inform you about P.F :
There are two (2) cases to be considered for PF formulation.They are as follows :
(1) LIMITED P.F : here the Provident Fund's limit is fixed by the government that is 6,500(mandatory).Again by considering the following two(2) cases :
(A) If the basic salary is more than Rs 6,500,then 6,500*12%
(B) If the basic salary is less than Rs 6,500,then whatever the basic *12%,gives you the Pf contribution amount.
(2) UNLIMITED P.F : here the company fix the statutory limit for the PF,that is whatever the basic salary *12%
Hope the above will help you somehow by clearing your query about Provident Fund.
Regards
SATYAJEET.