Dear all,
One of my employees presented his PF challan for the year 2014 and had the following doubt. Although 12% has been contributed correctly from my company, the split between EPF and EPS has changed over two consecutive months even though the employee's Basic+DA has remained at Rs. 10,800 with no alteration.
Oct 2014:
- Employee share = Rs. 1,296 (12%)
- Employer share: EPF: Rs. 755 (6.99%) and EPS: Rs. 541 (5.009%) - Total is Rs. 1,296 (12%)
Nov 2014:
- Employee share = Rs. 1,296 (12%)
- Employer share: EPF: Rs. 396 (3.66%) and EPS: Rs. 900 (8.33%) - Total is Rs. 1,296 (12%)
Please help clarify why the amount diverted to EPS is varying.
Regards,
Deepthi
One of my employees presented his PF challan for the year 2014 and had the following doubt. Although 12% has been contributed correctly from my company, the split between EPF and EPS has changed over two consecutive months even though the employee's Basic+DA has remained at Rs. 10,800 with no alteration.
Oct 2014:
- Employee share = Rs. 1,296 (12%)
- Employer share: EPF: Rs. 755 (6.99%) and EPS: Rs. 541 (5.009%) - Total is Rs. 1,296 (12%)
Nov 2014:
- Employee share = Rs. 1,296 (12%)
- Employer share: EPF: Rs. 396 (3.66%) and EPS: Rs. 900 (8.33%) - Total is Rs. 1,296 (12%)
Please help clarify why the amount diverted to EPS is varying.
Regards,
Deepthi
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