Confused About PF Calculation for My First Job Contract – Can Anyone Help?

Hi Everybody, I joined an MNC as a contract employee. While joining, management informed me that my contract period is 5 months, and they extended it for one more month, meaning it's a total of 6 months and 1 week. My basic salary was 6346/-. This is my first job, and I don't know about the calculations of PF. Could anyone tell me the PF amount I will receive after finishing the contract?

Regards, Daya

I doubt that contract employees receive the PF benefit. However, if it is specified in your contract, then it would be 12% of your basic salary.

Thanks for your reply, 762/- (12%) was deducted as a PF amount every month. However, I am unsure about the total amount I will receive by the end of the contract. Is it 12% of all 6 months, 1 week, or less than that?

In that case, you shall receive:

- Employee Contribution: 12% on Basic
- Employer Contribution: 12% on Basic
- Rate of interest on it: 8.5%

The calculation is as per rules, but you can get all details like the bank statement in the EPF e-passbook. Please visit members.epfoservices.in and go ahead.

Thanks,
Ramesh

Hi Guys, Employee Contribution – 12% on Basic. Employer Contribution - 12% on Basic. This contribution is directed to the two contributions, i.e., EPF (8.5%) and EPS (3.5%) schemes.

Thanks and best regards,
Kannan SL

All the employees, whether contractual or permanent, will have PF benefits. The breakdown is as follows:
- Employee Contribution PF: 12%
- Employer Contribution PF: 3.67%
- Employer Contribution EPS: 8.33%

You may claim your PF amount.

Regards,
Starlet

PF Deduction and Contribution Details

Your basic salary is Rs. 6346/-, and on this amount, the PF deduction is Rs. 762/- per month, which will also be contributed by the employer. This means that the total amount of PF+EPP is Rs. 1523/- per month. Over 6 months, this will amount to Rs. 9138/-, plus some interest on the contributed amount at 8.25% from the PF government side.

Thanks & Regards,
Laxman Bhekare