Understanding EPF Contributions: How to Calculate Minimum Wages from a $60,000 Gross Salary?

indu-sharma1
Gross salary is $60,000, and the basic salary is $30,000. What should be the minimum wages counted for EPF?
vmlakshminarayanan
Hi, there is no minimum or maximum salary limit for PF deduction. If the basic salary is Rs. 30,000 per month, you can either contribute based on the actual basic salary or a minimum of Rs. 1,800, which is 15,000 x 12%.
jeevarathnam
Lakshminarayan said, "right."

EPF Contribution Considerations

As the wages are already above the EPF ceiling limit, don't worry about that. Also, you can consider contributing EPF on higher wages of Rs. 30,000/- or up to the ceiling of Rs. 15,000/-. If contributing above the ceiling, then you need to obtain a declaration from both the employee and the employer.
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