New Pf Contribution Employer And Employee - XLS Download

Hi all.
If a Person Basic is 15,000/- rupees per month, What was his PF Contribution as per revised Structure, I.e. If the PF Contribution calculated based on 15,000/-? (15,000*12%) So, the salary of employee will increase? or the same. Please advice regarding this.

Hi Amirtha Varshini
Employee salary will remain same. If the basic is 15000 then there will be more deduction. His PF deduction will be 15000*12%=1800/-. Only thing is net salary will reduce compared to earlier net take home & even company contribution to PF will increase
Regards
Jeevarathnam P

Hi,
Another query arises. If Person Gross is 15,000/- his, basic pay 6000/- his, pf calculated from 6000/- or 15,000/-? Please do clarify

Hi Amritha,
It simply means that the employee whose Basic salary is above 6500 and 15000 or less shall be included in the Pf scheme. It does not mean that you have to increase the salary.
Earlier it was optional for the employer to deduct the PF of those employees whose basic salary is above 6500. But most of the companies do cut PF on whatever the basic salary is. Now it is mandatory to Deduct the PF whose basic salary is between 6500 and 1500.
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Regrds.

Hi,
PF will be calculated on 6000. It is always on basic and not gross.

Hi Kulkarni,
I agree your views am asking that if a person gross is 15,000/- basic will comes under 6000/- , PF will be deducted from 6,000/- . Above 15,000/- they can exempted from it.

Hi,
Yes. if the basic salry is above 15000 , they can be exempted for the diferrence in the amount. But most organization do deduct PF even if the basic is above 15000. May i have your email id
Thanks & regdrs.

Hi Amirtha Varshini
If the gross is 15000 & Basic+DA is 6000 then PF shall be calculated on 6000/- only

Hi Amrutha,
Updates! Updates!. on above PF revision.
Those employees whose basic salary is above 15,000 have now the option to put all the PF contribution into PF acount insetad of putting the 3.67% in pension account. Same option is available for employer contribution towards the above category employees. If am mistaken please do correct me.
What HR fucntions do you handle.
Regards.

Hi
Could you please give some more clarification on 3.67% share. Is there any govt notification.?