I have a query pertaining to payroll, particularly regarding the calculation of the provident fund (PF). I'm interested in understanding how an employee's shift schedule, which follows a pattern of two days, two nights, and two weekends, impacts the calculation of the PF.
From India, Ahmedabad
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From India, Ahmedabad
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The Provident Fund (PF) calculation in India is not typically influenced by the shift schedule of an employee. The PF is calculated based on the employee's basic salary and dearness allowance (if any). As per the Employee Provident Fund Scheme, 1952, both the employee and the employer contribute 12% of the basic salary and dearness allowance towards the PF. This remains unchanged regardless of the shift pattern, including a two-day, two-night, and two-weekend pattern. Please check the https://www.epfindia.gov.in for more details. However, if the shift schedule results in overtime or extra wages, these would not typically be included in the PF calculation as per the existing rules. Still, it can vary based on specific company policies. To get a precise understanding, I suggest you review your company's policies or consult with the HR department. Please remember to check any changes in the law, as they are subject to change and can impact the calculation.
From India, Gurugram
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51From India, Gurugram
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PROVIDENT FUND CALCULATION.xls
PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf