Dear Seniors, We have one query : 1. Is PF amount calculated on Incentives earned during the month ? Pls Guide & Advice
From India
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3From India
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Hi Milind , PF Is always caluclated on Basic ,which does not have direct relation to the incentive . so as per my knowledge PF can not be caluclated incentives . Regards Viyannar
From India, Hyderabad
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From India, Hyderabad
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Hi Milind, PF does caluclated on Basic only, and incentive have not any club Basic. If there will beany bifurcation will be in salary that it can be calculated. Regards, Kamesh Kumar KHATANA
From India, Hyderabad
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From India, Hyderabad
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PF Calculation on Monthly Incentives
Recently, we had an enforcement officer visit our company. He reiterated that PF needs to be calculated on incentives if they are paid monthly. He also showed a citation to that effect. I am in search of that citation. He mentioned it is available in the new edition of the PF Act.
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From India, Madras
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Recently, we had an enforcement officer visit our company. He reiterated that PF needs to be calculated on incentives if they are paid monthly. He also showed a citation to that effect. I am in search of that citation. He mentioned it is available in the new edition of the PF Act.
Regards
From India, Madras
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Dear All PF will be calculated on the basis on the fixed salary not with any variable component and incentives. The incentives will come under other earnings. Regards Bhuvana
From India, Madras
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From India, Madras
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Dear R S Biswal Can you please post the new edition of PF Act which supports the incentives earned on monthly basis also to be included in calculating pf. Thanks Subiah Chennai
From India, Madras
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From India, Madras
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Hi,
Under NO circumstances can incentives be added when calculating PF contributions. Let the officer show the rule in the PF MP Act 1952. It will be knowledgeable to us as well.
PF is calculated only on BASIC + DA.
Regards,
H Singh
From India, Raurkela
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Under NO circumstances can incentives be added when calculating PF contributions. Let the officer show the rule in the PF MP Act 1952. It will be knowledgeable to us as well.
PF is calculated only on BASIC + DA.
Regards,
H Singh
From India, Raurkela
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As per our PF Office in Chennai, whatever the employee is paid, such as basic, DA, conveyance allowance, attendance bonus, special allowance, incentive, etc., will be taken for PF calculation except HRA, OT, bonus, commission, etc. Is this correct? Appreciate a response.
Regards,
Usuf Ali, Chennai
From India, Madras
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Regards,
Usuf Ali, Chennai
From India, Madras
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If you have divided your salary structure between Basic, HRA, conveyance, etc., then you have to pay the PF only on the Basic Salary; otherwise, it will be calculated on the Gross Salary. However, in both cases, you may deduct a maximum PF of Rs. 780 per employee if their salary exceeds Rs. 6,500 per month.
Regards,
Sanjeev Kwatra
From India, Delhi
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Regards,
Sanjeev Kwatra
From India, Delhi
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my salay 10000 my incentive 3000 monthly what my esi amount
From India, Chennai
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From India, Chennai
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Please include incentives if they are a monthly feature. Any allowance paid on a monthly basis will be added to the basic for calculating ESIC Gross.
What can be accounted for ESIC Gross Salary:
Basic + HRA + Allowances + Monthly Bonus + Monthly Reimbursements
Any amount paid on a yearly basis will not be included in ESIC Gross Salary.
Warm Regards,
Neha Kapoor
From India, Kanpur
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What can be accounted for ESIC Gross Salary:
Basic + HRA + Allowances + Monthly Bonus + Monthly Reimbursements
Any amount paid on a yearly basis will not be included in ESIC Gross Salary.
Warm Regards,
Neha Kapoor
From India, Kanpur
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PF CHALLAN & CALCULATION SHEET.xls
ESIC Calculation.zip