Struggling with EPF Calculations? Let's Figure It Out Together!

Hi,

I wish you all a Merry Christmas and a Happy New Year! I need the right method to calculate EPF. 🤔 Thanks.

Regards,
Shaktiraj

Dear Shakti Raj,

Regarding your calculations, I hope you know the basis, i.e., the percentage to calculate. PF is to be calculated on Basic salary plus DA if applicable. Both the employee and employer contribute 12%. The ceiling is Rs. 6500/- on which the employer needs to pay. Rs. 541 goes to the pension account (A/C No.10), and the rest amount goes to EPF (A/C No.1). In case the employer is willing to contribute more than Rs. 6500/-, they can contribute, but for the pension fund, it shall be 8.33%, i.e., 541.00 only. All administrative charges are to be paid on total wages, i.e., Basic plus DA.

Regards,
Prabhakar Rao

Thanks for the help... :icon1:

Can you tell me how much contribution the employer and employee will pay in EPF? You have further mentioned that it's 12% for both parties or different for each of them. Thanks! :icon1:

Regards,
Shakti Raj

In strict terms of EPF, it is A/C No.1. If you are asking, then 12% is the employee's share and 3.67% is the employer's share.

Regards,
Prabhakar Rao.M

Hi Shaktiraj,

I have enclosed a sample sheet of PF computation that is used by me in our organization. Hope this will help you out.

Regards,
Sharath
Mob: 9341906204
Email: [IMG]https://www.citehr.com/misc.php?do=email_dev&email=c2hhcmF0aEBzdH JhdGVnaWF1dG9tYXRpb24uY29t[/IMG]

Hi, Sharath,

Thanks for the post. It's very easy to understand the calculation for EPF.

To pay EPF arrears from March 2008 to the current date into a newly opened account in July 2009, you can follow these steps:

1. Contact your EPF office or visit their website to obtain the necessary forms for arrears payment.

2. Fill out the forms accurately, providing details of the arrears period and the newly opened account information.

3. Make the payment by transferring the arrears amount to the designated EPF account using the provided payment instructions.

4. Keep a record of the payment confirmation for future reference and verification.

By following these steps, you can ensure that your EPF arrears from March 2008 to the present are successfully paid into your newly opened account in July 2009.