Dear Sir/Madam, I have some doubts in EPF as below a) whether calculate EPF from basic & DA or Gross salary? b) If we have calcultate from basic & DA, basic 15000 =? and basic & DA >6500 to
From Kenya, Nairobi
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From Kenya, Nairobi
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As per the EPF Act, PF must be calculated based on Basic + DA. Following the amendment from 2014, the basic sealing limit has been extended to Rs. 15,000. Therefore, you should consider all allowances as BASIC until the employee's salary crosses Rs. 15,000. However, some allowances are not included in this calculation, such as TA, FA, HRA, LA, Educational allowance, and Incentive (Variable).
If the basic is Rs. 15,000, then EEPF = 15,000 * 12% = 1,800 and ERPF = 15,000 * 13.1% = 1,965. Therefore, the total PF would be 3,765.
If you have any further queries, please do not hesitate to reach out.
Thank you.
From India, Chennai
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19If the basic is Rs. 15,000, then EEPF = 15,000 * 12% = 1,800 and ERPF = 15,000 * 13.1% = 1,965. Therefore, the total PF would be 3,765.
If you have any further queries, please do not hesitate to reach out.
Thank you.
From India, Chennai
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Provident Fund - Excluded Employee - Definition.pdf
PROVIDENT FUND CALCULATION.xls