Urgent Query On PF Deduction

saravanan_d_
Dear Seniors,
If an employee has a Gross Salary of Rs. 40,000 and Basic is Rs. 20,000, the PF Salary is considered as the ceiling wage of Rs. 15,000, so that his every month deduction is Rs. 1800.
In a given month, he worked only for 15 days and rest of the month are LOP. So, his Gross Salary is Rs. 20,000 and Basic is Rs. 10,000.
How the PF is calculated?
Is it, Constant amount of Rs. 1,800 or Rs. 1,200 (12% of Rs. 10,000)?
Please guide me....
panddu123
Dear U S Sharma sir,
Any new amendment regards PF, I heard about EPF Employer contribution is 8.33% changed for new joining employees who were joining from 01-08-2016.
its very urgent..........
Regards,
pandarinath
9705444419
Glidor
@Panddu
Recruitment of Fresh employees with some formalities will entitle an employer to claim back 8.33% of employers EPS share, so the net effect on employer would go as low as 3.67% under PMRPY scheme
however there are restrictions and formalities to maintain
look at this link https://www.citehr.com/573272-pmrpy-...issue-pg2.html
Rajesh Kumar Dubey
Dear Member,
At the time of less working days, earning reduces, which do not mean that PF contribution will be
calculated on Gross, When the Basic has been considered as Rs 15000, calulation will also be based on working days @ 15000 only.
CompliCheck - Compliance Tool
The calculations of PF is done based on the actual number of pay days. In case of LOP of 15 days the final calculated amount (for full month) will be prorated for the 15 days worked. So the short answer is 'It is not constant' in case of LOP.
Hope this clarifies.
saravanan_d_
Dear Seniors,
Still I'm confused. Here also, I got two different answers.
If possible, please clarify with support.
Glidor
earned wages is eligible for epfo contribution .................deduct 1200 on 10000
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