Dear All
Kindly advise me about the calculation of PF & PT at the time of resignation of an employee, for Eg:
As per rule employee need to serve 1 month Notice period,
he/she served 17 days notice period out 31 days.
co. is fixed max PF slab as Rs780/- for those who drawing more than Rs6500/- as Basic+DA.
Now we need to pay him/her 14 days Salary (31 - 17) (3 days LOP + 14 days Notice Period Receovery)
for that 14 days his/her basic+da is more than Rs6500/-
So we have to deduct Rs780 or 780/31*14(only proportinate days contribution)
Same way PT is Rs200/31*14 or Full amount of Rs200
Please advise
Baginesh
Kindly advise me about the calculation of PF & PT at the time of resignation of an employee, for Eg:
As per rule employee need to serve 1 month Notice period,
he/she served 17 days notice period out 31 days.
co. is fixed max PF slab as Rs780/- for those who drawing more than Rs6500/- as Basic+DA.
Now we need to pay him/her 14 days Salary (31 - 17) (3 days LOP + 14 days Notice Period Receovery)
for that 14 days his/her basic+da is more than Rs6500/-
So we have to deduct Rs780 or 780/31*14(only proportinate days contribution)
Same way PT is Rs200/31*14 or Full amount of Rs200
Please advise
Baginesh