PF Contribution - Pf Contributions [Thread 524017]

Hii Everyone
I am working as HR in IT company in Delhi. And now I have to handle statutory things like PF & ESI. But I have some doubts regarding this.
Can anyone tell me what should be the salary Break up & PF for Rs 20000/ p.m. and Is EPF contribution is also a part of it????
Need A clear Information on This Plz...

Dear All
Can some one tell me the method in which the Interest in EPF is calculated? Simple or compound Interest. If compound ,then over what time.
Regards
Suresh

Hi,
Salary breakup can be approx 50% (should be more than minimum wages basic amount) of the gross as basic and 30 to 50 % of basic can be as HRA and Travel allowance can be 1000/-, conveyance allowance can be 600/- ( total 1600/-). If anything remaining, add it in education, medical and special allowances.
PF calculation for the above gross salary 20000/- assuming the basic Rs. 10,000/-
Employees Contribution A/c.No.1 12.00% 1200
Employers Contribution A/c.No.1 3.67% 367
Employers Contribution A/c.10 8.33% 833
Admn. Charges A/c.No.2 0.85% 85
Admn.Charges A/c.No.21 0.50% 50
Admn Charges A/c.No.22 0.01% 1

TOTAL 25.36% 2536

Hi Anju,
Defining of salary structure of a company is not a general discussion as it also define the increase/decrease in the liabilities of the company , however you can get a general idea here but it will not serve the purpose of your company . I would suggest you should involve a consultant for this process.
Thanks & Regards
Sanjeev Kumar Baliyan
Advocate & Consultant
Noida
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