EDLI Calculation For EPF

Hrsystem
Hi,
please anyone help on How to calculate edli charges?
i know it is 0.5 % but not sure whether it is from basic of employees or ceiling for rs.6500.
Please confirm the below example is correct.
if employee has basic 10000
employee share 12% - 1200
employers 8.33% on 6500 - 541
employers 3.37% on 6500 - 239
EDLI 0.5% on 6500 - 32
Admin charges 1.1% on 10000 - 110
EDLI admin charges 0.01% on 6500 - 1
Thanks in advance
sethupathy-s
Dear,
Your Calculation is Correct. The Maximum Contribtion to EDLI is Rs.32.50 only.
But many unexampted companies Calculate EDLI for the whole Basic.
S.Sethupathy,
Erode.
Hrsystem
Dear Sethupathy,
thanks for your response.
Can you pls tell account headings payment split in challan.
i have been informed to do below calculation
for example if 5 employess have basic of 10000 each then
total A/C1 - full basic wages - 50000
total A/C10 - ceiling basic - 32500
is this right? pls clarify
Thanks
Thiru
sumitk.saxena
Dear sir,
The calculation should be :
EPF/EPS/EDLI sal- Rs. 10,000
A/c 1 (3.67 % + 12%)- 659+1200= 1859.
A/C 2 (1.1% of EPF sal)- 110
A/C 10-(8.33% of EPS sal)- 541
A/C 21-(0.5% of EPS/EDLI sal)-50
A/C 22-(0.01% of EDLI sal)-2
let us clerify the same
IN EPF The deductions beraing on employee salary should be 12% of the salary, the component consider for deduction should be (basic+da+food conc.if any and any other spl or undefined allowances)
The Employer Share of contribution for 12 % should be bifurcated in this way 3.67 % + 8.33%, the 3.67% should be difference of 12% (employee share)-8.33%(pension fund)
The Celing for caculation of 8.33% should be maximum of rs. 6500/-
The Celing for edli calcution should also be same but in a/c the minimum charge should be Rs.2/- and the minimum charge should be Rs.5 for a/c 2.
hope this whole will clear all doubts regarding calculation of epf accumulations.
thanks & regards,
From,
Sumit Kumar saxena,
+91-9899669071, 0120-4131277
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