Provident Fund Contribution??

nandarock90
Hi I have a doubt regarding PF contribution by the employee and employer. My Cost to the Company (CTC) is Rs.12100 which includes Employer\'s PF contribution of Rs711. I suppose to get as Rs 9840 as my \"Take Home\"... but surprisingly they are deducting PF from my Take home salary with the same percentage once again.... Is this right????
Sonali Neve
Dear Nanda,
As per my knowledge.. Your PF amount should be 554 (Employee) + 554 (Employer - Pension and PF amount)... total deduction for PF = 1108.
Provided if PF contribution from employer is teh part of CTC..many of the comapnies now a days has practise that CTC amount includes PF contibution from Employer and Employee.. So pls. ceck othre deductions as well...
Also apart from that check out whether ESIC is also deducted or not.. actually that is compulsory till monthly salary of 15718/- and PT...this are teh minimal deductions taht generally company deducts..pls check your salary slip and let us know othre deductions..
Meanwhile speak to HR and understand proper bifurcations of your salary...
Regards,
Sonali V. Neve
http://www.linkedin.com/profile/view...hb_tab_pro_top
nandunegi@hotmail.com
wt is your basic salary?????
if you have your basic with CTC you can calculate your Total inhand/gross salary.
moovendrapandi
As per Ms. Sonali V. Neve there is some mistake, cause pension amount shouldn't be more thatn Rs.541/- which deduct on 6500 wages.
Apart from this if Nanda could share salary structure or basic salary then we will get the deduction details. what ever is going on is right or wrong?
Sorry Ms. Sonali V. Neve but I feel to correct to you.
Regards,
Ashwin.
Sonali Neve
Dear Aswin,
Thanks for correcting me..an enlightening me...
No need of saying sorry.. Infact i sould be thankfull to you..
Thanks once again.. for correcting me...
Regards,
Sonali V. Neve
nandarock90
Thanks all!!!
Here is my Salary Components
Basic------------ Rs 5910
HRA------------ Rs 1970
Special Allowanc Rs 1170
Conveyance Allowance- Rs 800
Bonus------------------ Rs 700
Gross------------ Rs 10550
PF- Employer Contribution Rs709
ESI-Employer Contribution Rs468
Gratuity----------------- Rs 284
CTC--------------- Rs 12011
For The month of June my company deducted... Rs 658 as my PF (Employee contribution) and Rs 170 (Employee contribution) as my ESI from my Gross (i.e Rs 10550)
nandunegi@hotmail.com
CTC calculation is Ok,,,,,,,,,,,,,,,,,,,,,,,,(admin charges not included)
but the calculation of Pf is ??????,,,,,
if is deducted as per working days then howwwwwwwwww on wt basis,,,,,,,,,,,,,,,,,,,,,,,
phir bhi calculation not meeting to the deduction for june'12 (thr iz a mistake),,,,,,,,,,,,,,,,,,,,,,
wt are your working days for the month?????????
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