Dear All,
I receive a salary of Rs. 7500/-. The salary in hand (after PF deduction) is Rs. 6589/-. I checked with the accounts department of my company, and they are deducting Rs. 780/- each month as my contribution to PF. However, I receive a check (salary in hand) of Rs. 6589/-. I'm puzzled about how they arrived at the figure of Rs. 780. Calculating 12% of Rs. 7500 gives Rs. 900/-.
From India, Delhi
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I receive a salary of Rs. 7500/-. The salary in hand (after PF deduction) is Rs. 6589/-. I checked with the accounts department of my company, and they are deducting Rs. 780/- each month as my contribution to PF. However, I receive a check (salary in hand) of Rs. 6589/-. I'm puzzled about how they arrived at the figure of Rs. 780. Calculating 12% of Rs. 7500 gives Rs. 900/-.
From India, Delhi
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Dear akshay.. ur PF is deducted on the amount of 6500/- as its a ceiling amount for PF. 6500/- must be ur basic salary, check ur salary slip. 12% of 6500/- = 780/-
From India, Hyderabad
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From India, Hyderabad
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PF is deducted at 12% of basic, DA, and RA. The ceiling limit for PF is 12% of Rs 6500, which means it is Rs 780 even if the salary is Rs. 15,000. The employer also contributes a similar percentage of the amount.
Thank you.
Regards
From India, Mumbai
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24Thank you.
Regards
From India, Mumbai
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Dear All,
Does anybody have the calculation of the PF monthly challan and the bifurcation of the A/C.01, A/C.10, A/C.21, A/C.22? These are very particular in percentage bifurcation. For example, if the total monthly wages are 3,277,393, what is the interpretation of these accounts?
From United States
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Does anybody have the calculation of the PF monthly challan and the bifurcation of the A/C.01, A/C.10, A/C.21, A/C.22? These are very particular in percentage bifurcation. For example, if the total monthly wages are 3,277,393, what is the interpretation of these accounts?
From United States
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Understanding PF Monthly Challan and Account Bifurcation
Does anybody have the calculation of the PF monthly challan and the bifurcation of the A/C.01, A/C.10, A/C.21, A/C.22? I am very particular about percentage bifurcation. For example, if the total monthly wages are 3,277,393, what is the interpretation of these accounts?
Hi, Account No. 1 is for PF, where the Employees' share is 12% and Employers' share is 3.67%.
Account No. 2 is Admin charges for PF, where only the employer will contribute 1.1%, and the employee need not contribute.
Account No. 10 is for the Pension Fund, where only the employer will contribute 8.33%, and the employee need not contribute.
Account No. 21 is for the Insurance Fund, where only the employer will contribute 0.5%, and the employee need not contribute.
Account No. 22 is for Admin charges for the Insurance Fund, where only the employer will contribute 0.01%, and the employee need not contribute.
From India, Mumbai
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Does anybody have the calculation of the PF monthly challan and the bifurcation of the A/C.01, A/C.10, A/C.21, A/C.22? I am very particular about percentage bifurcation. For example, if the total monthly wages are 3,277,393, what is the interpretation of these accounts?
Hi, Account No. 1 is for PF, where the Employees' share is 12% and Employers' share is 3.67%.
Account No. 2 is Admin charges for PF, where only the employer will contribute 1.1%, and the employee need not contribute.
Account No. 10 is for the Pension Fund, where only the employer will contribute 8.33%, and the employee need not contribute.
Account No. 21 is for the Insurance Fund, where only the employer will contribute 0.5%, and the employee need not contribute.
Account No. 22 is for Admin charges for the Insurance Fund, where only the employer will contribute 0.01%, and the employee need not contribute.
From India, Mumbai
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
PROVIDENT FUND CALCULATION.xls