Pf Calculation Xls Download

Hiiii.........,
hey want to know if PF is calculated on basic, for eg if the basic is 15,000Rs is PF calculated only on 6500 Rs or on the whole amount of 15,000RS.
Regards
namrata

Hi Namrata,
You haven't exactly mentioned if the basic amount is Rs. 6500 or Rs. 15000. If you basic salary is 15000, then the PF deduction would be 12% of it..Rs. 1800.
Basic salary is normally around 40%-45% of your gross pay.
Hope this helps.
Regards,
Sajal

Hi Namrata
Regarding pf from employer side
3.67% goes to of basic goes to pf & 8.33% goes to pension but while calculating on basic of Rs 15,000/-
the pension amt of 8.33% means (6500 * 8.33) is Rs 541.45 but the maximum amt taken for pension fund is Rs 541 so we will consider Rs 541 for pension and for employer pf side it will be Rs 1800-541 = 1259 will be employer pf side
Regards,
HEMANT KASKAR

hi,
thanks .....need further clarifictaion.anythng exceedind basic-6500 will it not be considered
for eg basic-15000
employee contribution-15000*12%=1800
employer cotribution to pension fund -15000*8.33%=1249.5
to pf-15000*3.67%=551
dos it go this way

Hi Namratha,
This is responding to your doubt, i am herewith attaching a file regarding PF calculations. Once you gone through the file, you will clearly know how to make PF?
:shock: If you have any doubt to make pf calculations, plz revert me.
Bai........
Krishna

Hi Krishna,
Good effort by you.
as far as i am aware, PF return needs to deposit on yearly basis in stead of half yearly which you mentioned in the attached sheet.
I think, half yearly return is for ESIC.
correct me if i m wrong.
Rgds
Nirmal

HI KRISHNA,
in ur formula, why is there a ceiling of Rs 541 in case of employer's pension contribution, it is not 8.33% of respective basics either
regards,
sharad

Hi....
Well as per the understanding on the question askes on PF, normally PF is calculated as 12% of Basic and never on total CTC, And basic is flxible , may be 40% - 50% of total CTC. Hope the same clears your query.
Bessy

Quite informative ,
I guess 2 more we need to share is
1) Interest is calculated on a monthly basis
2) Does any one have data what the Pension contribution by employer since 1990 , eg it is 8.33% of base pay per month , was it same since 1990.
Ravi Rao

hi namrata,
pf is 12% of basic which is Rs. 1800/-
of this amount Rs. 541/- goes into EPS (Employee Pension Scheme) contribution. remaining Rs. 1259/- into EPF (Employee Provident Fund)