Hi,
It will be great if you could advise something to get rid of PF.
Please note: Total employees staff – 30 and more than 18 employees are drawing less then 15000 per month.
Almost all sales employees are getting DA of Rs. 125 to 150 per day, hence it comes to 125*25= 3125 & 150*25=3750 so if we calculate gross salary 8000+ DA 3125 so it comes to 11125. If will pay Gross salary as 11125 then to Basic is coming 4450 as per 40% of Gross salary.
If we make Basic 60% of gross then it comes to 6675 so how will calculate H.R.A, Conveyance, Education, Medical Allowance, LTA and Other Allowance?
If I am putting as Basic – 60% / HRA – 10% / Conveyance – 10% / Education – 10% / Progressive Allowance – 10% so basic of all sales employees are more then 6675, then we are eligible for Provident fund or not? If yes, then is there any way to get rid of PF?
Is it like that if we have more then 20 employees in company then we are eligible for PF?
Please do let me know the advantage &
It will be great if you could advise something to get rid of PF.
Please note: Total employees staff – 30 and more than 18 employees are drawing less then 15000 per month.
Almost all sales employees are getting DA of Rs. 125 to 150 per day, hence it comes to 125*25= 3125 & 150*25=3750 so if we calculate gross salary 8000+ DA 3125 so it comes to 11125. If will pay Gross salary as 11125 then to Basic is coming 4450 as per 40% of Gross salary.
If we make Basic 60% of gross then it comes to 6675 so how will calculate H.R.A, Conveyance, Education, Medical Allowance, LTA and Other Allowance?
If I am putting as Basic – 60% / HRA – 10% / Conveyance – 10% / Education – 10% / Progressive Allowance – 10% so basic of all sales employees are more then 6675, then we are eligible for Provident fund or not? If yes, then is there any way to get rid of PF?
Is it like that if we have more then 20 employees in company then we are eligible for PF?
Please do let me know the advantage &