PF calculation - as per the new guidance, where we have to calculate 12 % on which of the allowances?

How can we calculate PF in the salary sheet according to the new guidance? Where do we need to calculate 12% on which allowances?

In short, as had been laid out earlier, the Supreme Court, in its current judgment, has held that allowances which are made universally, ordinarily, and necessarily to all employees across the board or to all employees in a particular category/grade will fall within the definition of 'basic wages' for the purposes of computation of provident fund contributions.

As per the new Code, in the definition of "wages", the components such as House Rent Allowance, Overtime Allowance, Commission, and Travel allowance are excluded. Therefore, the liability of contributions of employees and employers under the EPF Act shall be reduced.

(Same applies to the ESI Act as well).