Respected Seniors,
Good Morning,
I need your little attention from your valuable time.
Many times i have heard that Basic for PF calculation is depended on Minimum Wages declared by respective state government. My question is can we bifurcate minimum wages further in Basic+HRA+Spl. Allw.
For eg. If Min. Wage = 6000/-
Now can we decide Basic = 4000/-, HRA = 1000/-, Spl. Allw. = 1000/-
and can we calculate PF on 4000/- i.e. (4000 x 12%) = 480/-
Your valuable guidance can clear confusion in my mind.
With Warm Regards,
Vikas Sharma
Asst. Manager - HR
(M) - 90410-81606