hello bhuwan,
Regarding PF Contribution -Employer should pay 12% of Basic salary, in which 8.33% will goes to Pension Scheme balance 3.67 will goes to PF.
While calculating the Pension Scheme employer should pay 8.33% of basic (limit is up to Rs.6500/ i.e. Rs.541/-) not more than that rest will goes to PF.
For e.g. if the employee is getting Basic salary of Rs.8000/- Rs.541/-(8.33%) will go to pension scheme and Rs.419/- will go to PF, however employer has to contribute 12% of basic, whatever be the amount.
Regarding Employee Contribution of 12% from basic is unavoidable as per the PF act.
From India, Pune
Regarding PF Contribution -Employer should pay 12% of Basic salary, in which 8.33% will goes to Pension Scheme balance 3.67 will goes to PF.
While calculating the Pension Scheme employer should pay 8.33% of basic (limit is up to Rs.6500/ i.e. Rs.541/-) not more than that rest will goes to PF.
For e.g. if the employee is getting Basic salary of Rs.8000/- Rs.541/-(8.33%) will go to pension scheme and Rs.419/- will go to PF, however employer has to contribute 12% of basic, whatever be the amount.
Regarding Employee Contribution of 12% from basic is unavoidable as per the PF act.
From India, Pune
Dear Mr. R.Palaniswamy,
Thanks for your reply, his salary breakup is ;
Basic - 12110.00
HRA - 6055.00
Trn. Allow. - 800.00
Medical - 1250.00
Spl. Allow. - 4005.00
----------------------
24220.00
PF 780.00
------------------------
Net 25000.00
From India, Kashipur
15Thanks for your reply, his salary breakup is ;
Basic - 12110.00
HRA - 6055.00
Trn. Allow. - 800.00
Medical - 1250.00
Spl. Allow. - 4005.00
----------------------
24220.00
PF 780.00
------------------------
Net 25000.00
From India, Kashipur
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls