Pf Calculation for employee with above 15000 salary - In January month he was present 15 days

sony.sony
Dear CiteHr Team, I have a question there is an employee in my company his basic salary salary is more than 15000, we deducted his pf on 15000.
In January month he was present 15 days, his calculation should be as per below or other, please clarify
15000*15/26=8654
Pf Amount 1038
his salary
Basic + VDA HRA Conveyance Allowance Medical Allowance Skill Allowance Gross Salary
15000 7500 1600 1250 6299 31649
loginmiraclelogistics
Hi Sony,
Generally to arrive at per day salary the denominator shall be either 30 or 31 days, except for gratuity calculation-it shall be 26 days as per law. Average of 30 days shall be ideal which can be used for all the months irrespective of 28 or 29 or 30 or 31 days. Sometimes people resort to - total salary / no.of days of the respective month(s) which also not correct. Average salary per day can be uniformly applied throughout the year irrespective of calendar days or no.of working days etc., without fluctuations from month to month.
sony.sony
thank for your response sir, my question is pf will be deducted on 15000 or as per days calculated amount
15000*15/31 =7258.
Pf =7258*12%=871
or
15000*12%=1800
panchsen
Dear Sony Sony
Your understanding of contributing employer's share of contribution @12% on actual earnings of an employee's basic salary for 15 days in January is in order, provided his absence on other days of the month are treated as loss of pay
Panchsen
P.Senthilkumar
[Login to view]
9884009193
sony.sony
Dear Sir,
PF is deducted on gross salary except HRA and bonus, so question is that
his breakup is as below
HRA Conveyance Allowance=7500
Conveyance Allowance=1600
Medical Allowance=1250
Skill Allowance =6299
Gross =31649
We deduct his pf on 15000
if he present only 15 days
Than pf what will pf calculation.
sony.sony
Dear Sir,
PF is deducted on gross salary except HRA and bonus, so question is that
his breakup is as below
Basic=15000
HRA Conveyance Allowance=7500
Conveyance Allowance=1600
Medical Allowance=1250
Skill Allowance =6299
Gross =31649
We deduct his pf on 15000
if he present only 15 days
Than pf what will pf calculation.
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute