Dear Seniors, Kindly find attached salary sheet and pls check and confirm PF calculation is correct or not. If not correct pls guide me. Thanks & Best Regards,
From India, Chennai
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30From India, Chennai
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Your sheet seems to be perfect, Mr. Sharma. However, I have one suggestion. Why don't you increase the basic or any of the other components of those associates for whom ESIC is applicable and move them out of the ESIC list? It is advisable to increase any other component and not the basic so that it does not have any effect on the PF.
Regards,
AB
From India, Mumbai
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Regards,
AB
From India, Mumbai
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I have noticed mistakes in your calculation.
1. For a salary of Rs. 193,142, how would a 12% contribution become Rs. 19,217 and a 1.1% contribution become Rs. 2,125?
2. The salaries for the Pension scheme and EDLI seem different. Have you opted for a pension for salaries beyond the ceiling? If not, these amounts should be equal.
Regards,
Abbas
From India, Bangalore
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1. For a salary of Rs. 193,142, how would a 12% contribution become Rs. 19,217 and a 1.1% contribution become Rs. 2,125?
2. The salaries for the Pension scheme and EDLI seem different. Have you opted for a pension for salaries beyond the ceiling? If not, these amounts should be equal.
Regards,
Abbas
From India, Bangalore
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Dear Ms.Sharma, HR, For a salary of Rs. 193142, 1.1% is 2125, which is correct. Abbas.P.S
From India, Bangalore
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From India, Bangalore
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Dear Ms. Sharma, HR,
For a salary of Rs. 10,000, the breakdown is as follows:
- Employee contribution (12%): Rs. 1,200
- Employer contribution (3.67%): Rs. 367
- EPS (pension) contribution (8.33%): Rs. 833
- Admin Charges (1.1%): Rs. 110
- EDLI (0.5%): Rs. 50
- EDLI (Admin @ 0.1%): Rs. 10
From your previous post, I infer that PF is being paid on the full salary (beyond the ceiling). To illustrate this further, let's consider a salary of Rs. 20,000:
- Employee contribution (12%): Rs. 2,400
- Employer contribution (3.67%): Rs. 1,150 (Rs. 2,400 - Rs. 1,250)
- EPS (pension) contribution (8.33%): Rs. 1,250 (limited to Rs. 15,000)
- Admin Charges (1.1%): Rs. 220
- EDLI (0.5%): Rs. 75 (limited to Rs. 15,000)
- EDLI (Admin @ 0.1%): Rs. 15 (limited to Rs. 15,000)
Thank you,
Regards, Abbas P.S.
From India, Bangalore
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For a salary of Rs. 10,000, the breakdown is as follows:
- Employee contribution (12%): Rs. 1,200
- Employer contribution (3.67%): Rs. 367
- EPS (pension) contribution (8.33%): Rs. 833
- Admin Charges (1.1%): Rs. 110
- EDLI (0.5%): Rs. 50
- EDLI (Admin @ 0.1%): Rs. 10
From your previous post, I infer that PF is being paid on the full salary (beyond the ceiling). To illustrate this further, let's consider a salary of Rs. 20,000:
- Employee contribution (12%): Rs. 2,400
- Employer contribution (3.67%): Rs. 1,150 (Rs. 2,400 - Rs. 1,250)
- EPS (pension) contribution (8.33%): Rs. 1,250 (limited to Rs. 15,000)
- Admin Charges (1.1%): Rs. 220
- EDLI (0.5%): Rs. 75 (limited to Rs. 15,000)
- EDLI (Admin @ 0.1%): Rs. 15 (limited to Rs. 15,000)
Thank you,
Regards, Abbas P.S.
From India, Bangalore
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Salary Sheet & PF PT Calculation & Challan.xls