If an employee (having EPF benefit) drawing a salary of 10,000 (Basic + DA) , then what is the calculation for monthly remittance
1) Employee Contribution (12% of 10000) : 1,200.00
2) Employer Contribution- Pension (8.33 %) : 541.00 (limited to 6500 )
3) Employer Contribution-PF (balance ) : 659.00 ( 1200 - 541 )
TOTAL : 2,400.00
OR
1) Employee Contribution (12% of 10000) : 1,200.00
2) Employer Contribution -Pension (8.33 %) : 541.00 (limited to 6500 )
3) Employer Contribution - PF (3.67% ) : 239.00 (limited to 6500 )
TOTAL : 1,980.00
Please advise ...
1) Employee Contribution (12% of 10000) : 1,200.00
2) Employer Contribution- Pension (8.33 %) : 541.00 (limited to 6500 )
3) Employer Contribution-PF (balance ) : 659.00 ( 1200 - 541 )
TOTAL : 2,400.00
OR
1) Employee Contribution (12% of 10000) : 1,200.00
2) Employer Contribution -Pension (8.33 %) : 541.00 (limited to 6500 )
3) Employer Contribution - PF (3.67% ) : 239.00 (limited to 6500 )
TOTAL : 1,980.00
Please advise ...