As per my knowledge, there are 2 types of PF deductions. First, 12% of basic & minimum contribution which is 12% of 15000 (PF wages). Currently im prorating the 1800 contribution For example: if no. of days paid is 18 for december, then 1800x18/31=1045.
I need a clarification on the above. One of friend informed me that, if basic is more than 15000, than no need of proration for 1800, irrespective of no. of days.
I need a clarification on the above. One of friend informed me that, if basic is more than 15000, than no need of proration for 1800, irrespective of no. of days.