cdshah76
I have a few queries regarding PF calculations. Please provide me the correct formula to calculate PF.
In the attached excel file, I have done the PF calculation as per my knowledge. I have done 2 calculations with 3 different basic salary amounts. Please tell me which one is correct. If both are wrong then what is the correct calculation?

From India, Mumbai
Attached Files (Download Requires Membership)
File Type: xls PF Calc 06122008.xls (16.0 KB, 596 views)

namratasinha_hr
4

I have gone through the excel sheet and both your options. I think your first option is correct.
As employee PF is 12% of basic salary of the employee.
and employer PF is 12% of minimum basic pay of 6500/- i.e fixed to 780/-
Regards
Namrata

From India, Mumbai
cdshah76
Thank you Namrata,
Pls. explanin me if my 1st option is correct then my EPS plus EPF amount, which comes from Employer's side, should aslo restrict to 780/- when basic salary more than 6500/-.
Regards
Chintan Shah

From India, Mumbai
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