1 employee salary drawn rs. 15000/- per month than pf contribution not mandatory. If employee salary drawn below rs. 15000/- in any month than what about pf?
From India, Meerut
Acknowledge(0)
Amend(0)
1From India, Meerut
Acknowledge(0)Amend(0)
If RAM salary in month june is 15000 / If RAM salary in month july is 12000 - than need assit. in pf
From India, Meerut
Acknowledge(0)Amend(0)
From India, Meerut
Acknowledge(0)Amend(0)
Hi Team, please share the PF calculation as per the minimum wage with salary revision arrears.
Example Calculation
1) If the basic salary is more than Rs. 15,000/-, PF would be calculated at 12%.
2) If the basic salary is less than Rs. 15,000/-, the following conditions are applicable:
* There are two locations:
1) Hyderabad's minimum wage is Rs. 9,300/-
2) Chennai's minimum wage is Rs. 13,624/-
If the sum of the basic salary and special allowance is less than the minimum wage, we need to calculate based on the minimum wage amount. For example, if an employee is located in Chennai with a sum of basic salary and special allowance at Rs. 11,000/-, we would consider the PF wage as Rs. 13,624/-. If the sum of the basic salary and special allowance is more than the minimum wage, we would consider the gross amount. For instance, if the basic salary + special allowance is Rs. 14,000/-, the PF wage would be Rs. 14,000/-. If the sum of the basic salary and special allowance exceeds Rs. 15,000/-, we need to consider the PF wage as Rs. 15,000/-.
Regards, Umapathi
From India, Bengaluru
Acknowledge(0)Amend(0)
Example Calculation
1) If the basic salary is more than Rs. 15,000/-, PF would be calculated at 12%.
2) If the basic salary is less than Rs. 15,000/-, the following conditions are applicable:
* There are two locations:
1) Hyderabad's minimum wage is Rs. 9,300/-
2) Chennai's minimum wage is Rs. 13,624/-
If the sum of the basic salary and special allowance is less than the minimum wage, we need to calculate based on the minimum wage amount. For example, if an employee is located in Chennai with a sum of basic salary and special allowance at Rs. 11,000/-, we would consider the PF wage as Rs. 13,624/-. If the sum of the basic salary and special allowance is more than the minimum wage, we would consider the gross amount. For instance, if the basic salary + special allowance is Rs. 14,000/-, the PF wage would be Rs. 14,000/-. If the sum of the basic salary and special allowance exceeds Rs. 15,000/-, we need to consider the PF wage as Rs. 15,000/-.
Regards, Umapathi
From India, Bengaluru
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
PF Contribution on not less than Minimum Wage.pdf