I want to know if the basic pay of an employee is Rs. 7500/-. In this case, the employer's 12% share is Rs. 900, and the breakdown should be Rs. 541 under the Pension fund (6500 x 8.33%) and the remaining Rs. 359 under the provident fund (900 - 541). Alternatively, the percentage formula of 8.33% and 3.67% of Rs. 7500 should be applied. Which one is the correct way?
From India, Delhi
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From India, Delhi
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EPF Pension.xls
EPF - Pension contribution is zero WHY.jpg