dear Shweta,
just to add to the above, do not follow general definition of wages for PF given above. please use the two tests below as given by the Supreme court:
The Supreme Court has laid down two tests to determine whether a component is included in the definition of ‘basic wages’ or not. These are ‘test of universality’ and ‘test of contingency’.
Applying the test of universality, if a component is paid universally, necessarily and ordinarily to all employees of a company, the same is included in the definition of basic wages. Applying the test of contingency, if a component is paid subject to uncertain events like overtime payment, the same is excluded from the definition of basic wages.
So, if you are paying any cash component universally, necessarily and ordinarily to all, like any allowance is being paid to all employees, that needs to be construed as wages. so overtime, bonuses, etc are not part of PF wages, but any other component needs to be run through the test of "Universally, necessarily and ordinarily paid."