Understanding EPF Calculation: How Do You Accurately Figure Out Contributions?

How to Calculate EPF

To calculate EPF (Employee Provident Fund), you can follow these steps:

1. Determine the employee's basic salary.
2. Check the current EPF contribution rate set by the government.
3. Calculate the EPF contribution amount by multiplying the basic salary with the contribution rate.
4. Deduct any additional voluntary contributions made by the employee.
5. The total EPF contribution will be the sum of the mandatory contribution and any voluntary contributions.

By following these steps, you can accurately calculate the EPF for an employee.

EPF Contribution Breakdown

Scheme Name | Employee Contribution | Employer Contribution | Paid to A/c No
---|---|---|---
Employee Provident Fund | 12% | 3.67% | 1
Employees' Pension Scheme | 0% | 8.33% | 10
Employees Deposit Linked Insurance | 0% | 0.5% | 21
EPF Administrative Charges | 0% | 1.1% | 2
EDLIS Administrative Charges | 0% | 0.01% | 22

Regards,
Hardik Chauhan

EPF Contribution Breakdown

- Employee's share: 12%
- Employer's share: 3.67%
- Pension fund: 8.33%
- Admin. charges: 1.10%
- EDLI: 0.50%
- EDLI Admin. charges: 0.01%
- Total: 25.61%

EPF Contribution Breakdown

Scheme Name | Employee Contribution | Employer Contribution | Paid to Account No
---|---|---|---
Employee Provident Fund | 12% | 3.67% | A/C No.1
Employees' Family Pension Scheme | 0 | 8.33% | A/C No.10
Employees Deposit Linked Insurance | 0.5% | A/C No.21
EPF Administrative Charges | 0 | 1.1% | A/C No.2
EDLIS Administrative Charges | 0 | 0.01% | A/C No.22

Regards,
P. Nagaraju
Sr. Accountant

Yes, it's right about PF calculation.

Form No. 11 for EPF

Can anyone tell me about Form No. 11 for EPF?

Regards,
Kapil Rathore
HR

Yes, it's correct about PF calculation. Can anyone tell me about the maximum amount to deposit without a ceiling?

Regards,
Kumud Jha
HR Officer

You can contribute a maximum of the actual amount of your PF deduction as voluntary PF.

Regards,
Koti

Form-11 would be applied to the employee who exceeded the ceiling (₹6,500-₹6,600).

Thank you.

Regards,

Dear Mona,

Good evening :)

PF Contributions:
1. Employee: 12%
2. Employer: 12%
PF is optional on and over Rs. 6500 (Basic Salary).

ESI Contributions:
1. Employee: 1.75%
2. Employer: 4.75%
ESI limit is Rs. 10000 gross salary.

Ensure you understand the calculations involved. Let me know if you need further clarification.

Thank you.

Hi Kapil,

Can you please suggest the way how to apply for an HR Executive position (junior level) in Siemens or similar IT companies, and what are the prerequisites these companies look for in a potential candidate?

Thanks in advance.

Regards,
Saswata

PF 12% should be calculated on Basic + VDA. ESIC 1.75% should be calculated on Basic + VDA + HRA + Special or Conveyance allowance.

Regards,
Ruth

PF
The statutory rate of contribution is 12% of emoluments (basic wages, dearness allowance, cash value of food concession, and retaining allowances if any).

ESI
Currently, the employee's contribution rate (w.e.f. 1.1.97) is 1.75% of the wages, and that of the employer is 4.75% of the wages paid/payable in respect of the employees in every wage period.