I have received some EPF slips (distributed by the HR people). In those receipts, there are two columns which state the total employee and employer contributions for the year. This slip in question is for the year June 2010 to March 2011. During this period, the Basic Salary was Rs. 10,010/-. As a result, the employee contribution at 12% per month is Rs. 1,201, which adds up to Rs. 12,130. Even in the PF slip, the total employee's contribution amount matches this amount of Rs. 12,130. However, the total employer contribution amount is mentioned in the slip as Rs. 6,637.
Is the Employer Contribution Amount Correct?
If not, please guide. Can someone please explain to me how this amount for the employer's contribution is calculated based on the actual figures explained above? Note: There is no other ESI, etc., being deducted and submitted by our HR.
Thanking you all in advance.
With best wishes,
Bably
Is the Employer Contribution Amount Correct?
If not, please guide. Can someone please explain to me how this amount for the employer's contribution is calculated based on the actual figures explained above? Note: There is no other ESI, etc., being deducted and submitted by our HR.
Thanking you all in advance.
With best wishes,
Bably