Understanding Provident Fund Deductions: How to Calculate for Skilled Employees in Delhi?

Dear Sir,

We have graduate skilled employees in Delhi, covered under the Delhi Shop & Establishment Act, whose salaries range between Rs. 6000.00 to Rs. 30000.00. According to the Minimum Wages Act, a skilled graduate should be paid Rs. 4650.00. If the company is paying more than the minimum wages, what will be the formula for the amount on which Provident Fund deductions should be made?

Thank you.

Hope the enclosed Excel file serves your purpose. It contains examples for CTC=6,000/- (with due consideration given to min. wages) and for CTC=30,000 pm.

Regards,
Prashant Das
Delhi