Hi,
In my company 'basic pay ' is mimimum 4000 rs and max upto 6500. and PF is calculated at 12% of basic and equal contribution is made by employer-employee.
Please resolve my 4 queries:
4 PF calculation queries:
1. Pls provide some insight into the % or amount of "basic element' of salary.What is min to max range of 'Basic' element of salary for PF calculation.
2. If someone's basic pay goes above 6500 then should we calculate PF till 6500 or for total amount of basic.
3. What is the proportion of Basic and HRA elements in total salary.
4. Do the employee-employer have to deposit same amount of PF or the % of sumbission is different.
Regards
Gunjan
In my company 'basic pay ' is mimimum 4000 rs and max upto 6500. and PF is calculated at 12% of basic and equal contribution is made by employer-employee.
Please resolve my 4 queries:
4 PF calculation queries:
1. Pls provide some insight into the % or amount of "basic element' of salary.What is min to max range of 'Basic' element of salary for PF calculation.
2. If someone's basic pay goes above 6500 then should we calculate PF till 6500 or for total amount of basic.
3. What is the proportion of Basic and HRA elements in total salary.
4. Do the employee-employer have to deposit same amount of PF or the % of sumbission is different.
Regards
Gunjan