Basic Pay Is Alwayas 30% Of The Gross Salary ?

Subir Chatterjee 1955
HELLO FRIENDS !
WILL U PLZ LET ME UNDERSTAND AS TO
A. WHETHER BASIC PAY IS ALWAYS 30 % OF GROSS SALARY .
B. WHETHER CONTRIBUTION TO EPF OF AN EMPLOYEE CAN NEVER BE LESS IF HE GETS LESS BASIC PAY/GROSS SALARY IN HIS NEW COMPANY
Awaiting reply from my HR experts,
Thanks & Regards
Glidor
both concept is wrong
BASIC + DA + all other allowances, which are regular in nature, except HRA and Medical are subject to EPF ( capping of 15000 may be maintained by the employer)
EPF is deducted actual earnings by basic+ DA + others, if DA gets variable , then almost every quarter it get changed, in case of LOP or unpaid leave also the pay get lower and so is the EPF contribution.
ca.dilipsingh
what is the meaning of gross salary as per pf ecr format . give example.
Glidor
@CA.Dulipsingh
for ECR format gross salary is the figure which is to be taken for calculation of TDS purpose / Profession tax slab
Shrikant_pra
There is no act that declares PF as % of gross. Yet normally it is 30% or more.
PF is deducted @ 12% on basic+DA actually earned. Less of the sum, lesser will be of contributions.
Shrikant Prabhudesai
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