Hello Sir,
As per our yesterday's discussion I prepared the ECR but when I uploaded the ECR, I got an error- EPF wages can not be greater than Gross wages.
Employee wants to contribute Rs 8850 in the EPF A/C , so I kept the EPF wages as 73750 (73750*12%) and employee's gross wages is Rs 52000. and if I calculate EPF on 15000 like, (15000*57%= 8850) my PF Admin charges will be on less amount. Which can be a problem for the PF officers.
I'm confused now, because we read , Employees can contribute up to 100% of their basic salary and dearness allowance towards the VPF scheme, means if my basic + DA is Rs 20,000, I can contribute Rs 20000 towards EPF. OR this statement means, I can contribute 12% on my total basic + DA which is Rs 20,000. So, contribution will be Rs 2400.
or I have to change EFP wages to get the 12% *x= 20,000 as EPF contribution. In this case EPF wages will be more than Employee's gross wages.
How should I calculate VPF in ECR.