Hi Team,
Please share the pf calculation as per the minimum wage with salary revision arrears.
for ex:
1) if basic more then Rs.15000/- pf would be calculate 12%.
2) If basic is less then Rs.15000/- below conditions applicable.
* there two location
1) hyd minimum wages is Rs.9300/-
2) Chennai minimum wages is Rs. 13624/-
basic + spl all is loss then minimum wages we need to calculate as per minimum wages amount
for exmple:
employee is location in Chennai. basic + spl all is Rs.11000/_ we want to considered pf wage is
Rs. 13624/-. if basic + spl all more then minimum wages we need to considered gross amount.
like basic + spl all Rs.14000/- as per pf wages is Rs. 14000/_. if basic + spl all more then Rs. 15000/-. we need to considered pf wages is Rs.15000/-.
Regards,
Umapathi