Is Our PF Calculation on the Salary Sheet Accurate? Seeking Guidance from Seniors

Dear Seniors, kindly find attached the salary sheet. Please check and confirm if the PF calculation is correct. If it is not correct, please guide me.

Thanks & Best Regards,

Your sheet seems to be perfect, Mr. Sharma. However, I have one suggestion. Why don't you increase the basic or any of the other components of those associates for whom ESIC is applicable and move them out of the ESIC list? It is advisable to increase any other component and not the basic so that it does not have any effect on the PF.

Regards,
AB

I have noticed mistakes in your calculation.

1. For a salary of Rs. 193,142, how would a 12% contribution become Rs. 19,217 and a 1.1% contribution become Rs. 2,125?

2. The salaries for the Pension scheme and EDLI seem different. Have you opted for a pension for salaries beyond the ceiling? If not, these amounts should be equal.

Regards,
Abbas

For a salary of Rs. 193,142, 1.1% is Rs. 2,125, which is correct.

Regards,
Abbas P.S

Dear Ms. Sharma, HR,

For a salary of Rs. 10,000, the breakdown is as follows:
- Employee contribution (12%): Rs. 1,200
- Employer contribution (3.67%): Rs. 367
- EPS (pension) contribution (8.33%): Rs. 833
- Admin Charges (1.1%): Rs. 110
- EDLI (0.5%): Rs. 50
- EDLI (Admin @ 0.1%): Rs. 10

From your previous post, I infer that PF is being paid on the full salary (beyond the ceiling). To illustrate this further, let's consider a salary of Rs. 20,000:
- Employee contribution (12%): Rs. 2,400
- Employer contribution (3.67%): Rs. 1,150 (Rs. 2,400 - Rs. 1,250)
- EPS (pension) contribution (8.33%): Rs. 1,250 (limited to Rs. 15,000)
- Admin Charges (1.1%): Rs. 220
- EDLI (0.5%): Rs. 75 (limited to Rs. 15,000)
- EDLI (Admin @ 0.1%): Rs. 15 (limited to Rs. 15,000)

Thank you,

Regards, Abbas P.S.

I am working in a construction company. They are not giving me any probation period. Am I eligible for PF contribution? My basic is ₹6,500/-.

Thank you.