My Pf Calculation - Salary Caluculation

akshay.kaul408
Dear All,
I get a salary of Rs. 7500/-.
The salary in hand (After PF Deduction is Rs. 6589/-)
I checked with the accounts department of my company, they are depositing Rs. 780/- each month as my contribution to PF.
But i get a check (Salary in hand) of Rs. 6589/-
How did they arive at the Figure of Rs. 780.
12% of Rs. 7500 is Rs. 900/-
seraj.loves
Dear akshay..
ur PF is deducted on the amount of 6500/- as its a ceiling amount for PF.
6500/- must be ur basic salary, check ur salary slip.
12% of 6500/- = 780/-
shreekanth.pr
Dear Akshay,
PF is deducted @ 12% of basic, DA and RA and the ceiling limit for PF is 12% of Rs 6500. ie to say it is Rs 780/- even if the salary is Rs.15,000/- and the similar % of amount contributed by the employer.
dinshan97
Dear All,
Does any body has the calculation of the pf monthly challan and the bifurcation of the A/C.01,A/C.10, A/C. 21, A/C. 22.are very particular in percentage bifurcation.If for example the total monthly wages are 3277393.And the Interpretation of these account.
dinshan97
Got it form my frien for your information
A/c I Employer Contribution
Employee Contribution
A/c II 1.10 % on PF Wages
A/c X 8.33 % on Pension Wages
A/c XXI 0.5 % on Pension Wages
A/c. XXII 0.01% on Pension Wages
monika05288@gmail.com
Hi,
Account No. 1 is for PF, wherein the Employees share is 12% & Employers share is 3.67%,
Account No.2 is Admin charges for PF, here only the employer will contribute 1.1% Employee need not contribute,
Account No.10 is for Pension Fund, here only the employer will contribute 8.33% Employee need not contribute,
Account No.21 is for Insurance Fund, here only the employer will contribute 0.5% Employee need not contribute &
Account No.22 is for Admin charges for Insurance Fund, here only the employer will contribute 0.01% Employee need not contribute
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