PF Deduction Calculation for March 2014
If your Basic Salary is Rs. 12,412/-, HRA is Rs. 4,494/-, Conveyance is Rs. 2,354/-, and Other Earnings are Rs. 2,140/-, making your Gross Salary Rs. 21,400/-, you might be wondering about the amount deducted from your salary as EPF.
The EPF (Employee Provident Fund) deduction is typically calculated on the Basic Salary. The standard deduction rate is 12% of the Basic Salary. Therefore, the EPF deduction from your salary would be 12% of Rs. 12,412/-, which equals Rs. 1,489.44/-.
Please check with your HR department for any specific company policies or variations in calculation.
Regards,
From India, Ahmedabad
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If your Basic Salary is Rs. 12,412/-, HRA is Rs. 4,494/-, Conveyance is Rs. 2,354/-, and Other Earnings are Rs. 2,140/-, making your Gross Salary Rs. 21,400/-, you might be wondering about the amount deducted from your salary as EPF.
The EPF (Employee Provident Fund) deduction is typically calculated on the Basic Salary. The standard deduction rate is 12% of the Basic Salary. Therefore, the EPF deduction from your salary would be 12% of Rs. 12,412/-, which equals Rs. 1,489.44/-.
Please check with your HR department for any specific company policies or variations in calculation.
Regards,
From India, Ahmedabad
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With reference to your query, I understand that your Basic Salary is ₹12,412/-. You are covered under EPF (effective from 01.09.2014 as per the new wage ceiling limit increased from ₹6,500/- to ₹15,000/-).
EPF Deductions Breakdown
As per that, your deductions are as follows:
- Employee Contribution: 12% on ₹12,412 - ₹1,489.44 (rounded off to ₹1,490)
- Employer Contribution:
- EPS Employer Share: ₹12,412 x 8.33% - ₹1,034
- EPF Employer Share: ₹12,412 x 3.67% - ₹456
- EDLI Charges: ₹12,412 x 0.5% - ₹62
- EPF Admin Charges: ₹12,412 x 1.1% - ₹137
- EDLI Admin Charges: ₹12,412 x 0.01% - ₹1.24 (rounded up to ₹1)
I hope this clarifies your doubt. Please let me know if you require any other clarification.
Thanks & Regards,
T. Prathap
HR Executive, Human Resource Department
R L Jalappa Narayana Heart Centre
Email: [Email Removed For Privacy Reasons]
Mobile: [Phone Number Removed For Privacy Reasons]
From India, Madras
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29EPF Deductions Breakdown
As per that, your deductions are as follows:
- Employee Contribution: 12% on ₹12,412 - ₹1,489.44 (rounded off to ₹1,490)
- Employer Contribution:
- EPS Employer Share: ₹12,412 x 8.33% - ₹1,034
- EPF Employer Share: ₹12,412 x 3.67% - ₹456
- EDLI Charges: ₹12,412 x 0.5% - ₹62
- EPF Admin Charges: ₹12,412 x 1.1% - ₹137
- EDLI Admin Charges: ₹12,412 x 0.01% - ₹1.24 (rounded up to ₹1)
I hope this clarifies your doubt. Please let me know if you require any other clarification.
Thanks & Regards,
T. Prathap
HR Executive, Human Resource Department
R L Jalappa Narayana Heart Centre
Email: [Email Removed For Privacy Reasons]
Mobile: [Phone Number Removed For Privacy Reasons]
From India, Madras
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Dear Flosil,
With reference to your query:
Employee Contribution
- 12% on 5000 - 600
Employer Contribution
- EPS Employer share: 5000 x 8.33% - 416.5 (round up to 417)
- EPF employer share: 5000 x 3.67% - 183.5 (round up to 184)
- EDLI charges: 5000 x 0.5% - 25
- EPF Admin charges: 5000 x 1.1% - 55
- EDLI Admin charges: 12412 x 0.01% - 0.5 (round up to Rs 1/-)
Hope I clarified your doubt. Please let me know if you require any other clarification.
Regards
From India, Madras
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With reference to your query:
Employee Contribution
- 12% on 5000 - 600
Employer Contribution
- EPS Employer share: 5000 x 8.33% - 416.5 (round up to 417)
- EPF employer share: 5000 x 3.67% - 183.5 (round up to 184)
- EDLI charges: 5000 x 0.5% - 25
- EPF Admin charges: 5000 x 1.1% - 55
- EDLI Admin charges: 12412 x 0.01% - 0.5 (round up to Rs 1/-)
Hope I clarified your doubt. Please let me know if you require any other clarification.
Regards
From India, Madras
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PF CHALLAN & CALCULATION SHEET.xls