Hello Seniors, I want to ask a question if One has a Salary of Rs.20,000/- then how much PF will be deducted for the same.
From India, Mumbai
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1From India, Mumbai
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Dear bhavesh, PF is also calculated on the basic+DA. The employer contributes 13.61% on the basic+DA and the employee contributes 12% on the basic+DA. Chitra
From India, Bangalore
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From India, Bangalore
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For any employee whose salary is about Rs. 15,000, PPF will be deducted from their salary only up to Rs. 15,000. Therefore, you need to compute PF at 15000 x 12% and deduct it from the salary.
In addition, the employer needs to contribute the same amount and also pay an administrative fee of 1.1%.
From India, Mumbai
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In addition, the employer needs to contribute the same amount and also pay an administrative fee of 1.1%.
From India, Mumbai
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@Chitra Kaushik,
If I am not mistaken, administration charges for PF (A/C no. 2) would now be 0.85% instead of 1.10%, and, by this adjustment, the total contribution from the employer's side would be 13.36%. Kindly confirm the same.
Thanks & Regards
From India, Mumbai
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If I am not mistaken, administration charges for PF (A/C no. 2) would now be 0.85% instead of 1.10%, and, by this adjustment, the total contribution from the employer's side would be 13.36%. Kindly confirm the same.
Thanks & Regards
From India, Mumbai
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Hi Seniors,
I wanted to ask, in the case of a new joiner and absenteeism, how will PF be deducted for those whose PF deduction is Rs.1800/- per month for gross salary equal to and above Rs.15000/-?
Thanks & Regards,
Hetal
From India, Mumbai
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I wanted to ask, in the case of a new joiner and absenteeism, how will PF be deducted for those whose PF deduction is Rs.1800/- per month for gross salary equal to and above Rs.15000/-?
Thanks & Regards,
Hetal
From India, Mumbai
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PF will be deducted on the actual salary paid. If the salary after deduction for absence is above 15000, PF will be paid on the maximum limit; else, it will be 12% of the actual salary (of course, you are required only to see basic + DA and not the gross salary).
From India, Mumbai
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From India, Mumbai
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Salary Sheet & PF PT Calculation & Challan.xls