Facing PF ECR Error with EPS Wages Above 15000? Let's Figure It Out Together

Error: EPS Contribution Remitted: Maximum equal to rounded 8.33% of EPS Wages, added with rounded 1.16% of the EPS Wages above 15000/-, found on line numbers. How to sort out this error?

There may be some errors in the calculation of EPS. If you have any doubts, you can reach me.

Error EPS Contribution Remitted: Max equal to rounded 8.33% of EPS Wages added with rounded 1.16% of the EPS Wages above 15000/- found on line numbers:

This error is due to the wrong calculation of EPS Contribution. It should be 8.33% of EPS Wages with the normal rounding method, i.e., more than 0.5 may be termed as the nearest rupee and less than 0.5 to the nearest rupee, 4.4 as 4 and 4.5 as 5. Please correct this error, and it will certainly be resolved.

Everyone,

Yes, I faced an issue while uploading and rectified it by applying the formula on EPS Contribution:
=Rounddown(((EPS wages) * 8.33%), 0)

It will get validated. The issue is with rounding or when like figures go + or -.

Understanding the EPS Wages Formula

The formula =RoundDown(((EPS Wages)*8.33%),0) is designed to address the following issue: The maximum value is equal to the rounded value of 8.33% of EPS Wages added to the rounded value of 1.16% of EPS Wages when it exceeds 15,000/-.

Error in EPS Contribution Remittance

Error: EPS Contribution Remitted: Maximum equals to rounded 8.33% of EPS Wages, added with rounded 1.16% of the EPS Wages above 15000/- found on line numbers: [7]

I can't understand this error. Please explain with a formula.

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