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....
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....