One of the employees receives a salary of 11600. When I calculate his EPF (12% employee share, i.e., 1392/-; 8.33% EPS, 966/- employer share; difference 426 employer share; EPF admin charges at .85% amounting to 98.60 (rounded to 99/-); EDLI (58/-) and EDLI inspection 1/-. Totaling to 2941.76, rounded to 2942/-. However, when I generate ECR, it comes to 2971/- (EPF admin charges .128 instead of 99/-). Why?
From India, Ahmedabad
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1From India, Ahmedabad
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Understanding EPF and EDLI Administrative Charges
Your calculation seems fine, but I think they are recovering a minimum administrative charge.
In the case of EPF Admin Charge:
The monthly payable amount under EPF Administrative charges is rounded to the nearest rupee, and a minimum of Rs 500/- is payable. Note: If the establishment has no contributory member in the month, the minimum administrative charge will be Rs 75/-.
In the case of EDLI Admin Charge:
The monthly payable amount under EDLI Administrative charges is rounded to the nearest rupee, and a minimum of Rs 200/- is payable. Note: If the establishment has no contributory member in the month, the minimum administrative charge will be Rs 25/-.
See more on Indian Labour Laws & Shram Suvidha Simplified at http://www.shramsamadhan.com/
From India, Kolkata
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Your calculation seems fine, but I think they are recovering a minimum administrative charge.
In the case of EPF Admin Charge:
The monthly payable amount under EPF Administrative charges is rounded to the nearest rupee, and a minimum of Rs 500/- is payable. Note: If the establishment has no contributory member in the month, the minimum administrative charge will be Rs 75/-.
In the case of EDLI Admin Charge:
The monthly payable amount under EDLI Administrative charges is rounded to the nearest rupee, and a minimum of Rs 200/- is payable. Note: If the establishment has no contributory member in the month, the minimum administrative charge will be Rs 25/-.
See more on Indian Labour Laws & Shram Suvidha Simplified at http://www.shramsamadhan.com/
From India, Kolkata
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