Hi!
The 12 % employer contribution break up is
8.33 towards pension fund and
3.67 towards provident fund.
I believe the admin charges are not included in this 12 % charge, that is why employer contribution turns out to be 13.11% i.e. 8.33 + 3.67 + 1.10 + 0.01
The 12 % employer contribution break up is
8.33 towards pension fund and
3.67 towards provident fund.
I believe the admin charges are not included in this 12 % charge, that is why employer contribution turns out to be 13.11% i.e. 8.33 + 3.67 + 1.10 + 0.01