Confused About PF and Pension Fund Deductions? Let's Break It Down Together!

Manali A Kulkarni
Hello all, can anyone explain to me how bifurcation works with PF and Pension Funds? In my previous organization, there was a Rs. 572 PF deduction from my end, and the same amount was paid from the employer's side as well. I worked there for 2.7 years.

When I am calculating the PF, should I multiply 572 by 2 per month for 2.7 years? Or are the Pension fund calculations also included in this? Please confirm.
abbasiti
To calculate the PF amount and remittance to the pension fund, first, you have to specify your salary. I think it will be around Rs. 4770. Then, 12% of 4770 will be 572.4, which will be rounded to 572. Then 8.33% of 4770, resulting in 397, would be paid to the pension fund. The balance share of the employer, which is 175 (572-397), and the entire share of the employee, which is 572, would be credited to the PF account. Hence, the amount in the PF would be (572+175) x 12 x 2.7 with interest.

Regards,
Abbas.P.S
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