Dear Friends, Kindly help me clarify the doubt regarding the admin charges calculation for Voluntary PF (deducted by the Employer).
Salary per Month:
22000 (Basic: 11000, DA: 4400, HRA: 6600)
Description
Employer Employee EPF Contribution 15000 x 12% = 1800
15000 x 3.67% = 551
EPS Contribution 15000 x 8.33% = 1250
EDLIS Contribution 15000 x 0.5% = 75
EPF Administrative Charges 15000 x 0.5% = 75
If an employee wants to deposit VPF of 2000
VPF Administrative Charges
(2000/12%) x 0.5% = 83...
Is this calculation correct? Please clarify the calculation method.
With Regards, Nijanth
Salary per Month:
22000 (Basic: 11000, DA: 4400, HRA: 6600)
Description
Employer Employee EPF Contribution 15000 x 12% = 1800
15000 x 3.67% = 551
EPS Contribution 15000 x 8.33% = 1250
EDLIS Contribution 15000 x 0.5% = 75
EPF Administrative Charges 15000 x 0.5% = 75
If an employee wants to deposit VPF of 2000
VPF Administrative Charges
(2000/12%) x 0.5% = 83...
Is this calculation correct? Please clarify the calculation method.
With Regards, Nijanth