Wants To Know PF Contribution Details

Suneetha_1
Respected sir,
I have some doubts in PF Contribution here i entered the details of PF contribution which i know please help me whether it is correct or not
************************************************** ******
EMPLOYER'S CONTRIBUTION (13.61% on Basic )

PF = 8.33%
PENSION= 3.67%
EDLI = 0.50%
Admin charges for Pf = 1.10%
Admin charges for EDLI = 0.01%
************************************************** ******
TOTAL = 13.61%
************************************************** ******
EMPLOYEE'S CONTRIBUTION (12% on Basic)

PF = 12%
************************************************** *****
GRAND TOTAL (13.61%+ 12%)= 25.61
************************************************** *****
Just to know that Employer PF = 8.33% and PENSION = 3.67% is this right or wrong
jeevarathnam
Hi Suneetha
All the calculations are correct except EPF & EPS of ER.
8.33% is Pension Fund & 3.67 is EPF
Suneetha_1
thanks alot Sir
And one more doubt
if an employee is drawing gross 14000 for all months and only in one month he is getting extra amount as Attendance bonus now only for that one month he is drawing 16400 then his ESI calculate on 16400 for that month?
jeevarathnam
Hi Suneetha
If the higher wages of 16400 is for only one month then you shall deduct ESI on 15000/- But make sure as from next month onwards his pay will be less than or equal to 15000/-
jahangirm
If my Basic pay is of Rs.8800/- how much pension i receive after attaining its terms and conditions of EPF Pension Scheme.
The Mother
There is a calculation method provided in the Act
Pensional Salary X Pensional Service divided by 70
You will get the quantum of pension you are eligible. If pensionable service is 20 years then 2 years will be added as bonus.
N.LOKANADHA BABU, MANAGER-HR
NRI ACADEMY OF SCIENCES
parwejkhan
Greeting All,
Does any one know that [Basic 6500]*12% (780) of employer share directly goes to the EPF a/c of a retired person.
under which section does it come,please copy that link or article and help me out.
i couldn't find it.
After attaining the age of 58 years of employee,employer full 12% contribution goes to EPF a/c.Is it true?
Waiting for your valuable information.
Regards
Parwej Khan
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute