I want some information for PF Limit so please suggest as per below. If My Monthly Gross Amount is to be 80000 and my basic is Rs. 48000, then how many PF would be deducted from my salary – 5760 or Rs. 1860? Is there any other amount deducted as per the ceiling amount of Rs. 15500? Please suggest the calculation as per this situation.
From India, Pune
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From India, Pune
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PF Deduction Options
You can deduct PF either from your gross salary or from your basic salary alone. If you are deducting it from the basic salary alone, it should not be on a salary of less than Rs 15,000. Accordingly, there can be three choices:
1. PF on gross salary of Rs 80,000, i.e., Rs 9,600.
2. PF on basic wage of Rs 48,000, i.e., Rs 5,760.
3. PF on statutory wage of Rs 15,000, i.e., Rs 1,800.
In all these cases, no pension fund contribution will be made. The entire employer contribution at the above rates will go to PF alone.
If you are already a pension fund contributor, then the employer will continue to contribute Rs 1,250, being 8.33% from his share calculated on a salary of Rs 15,000, to the pension fund.
From India, Kannur
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4526You can deduct PF either from your gross salary or from your basic salary alone. If you are deducting it from the basic salary alone, it should not be on a salary of less than Rs 15,000. Accordingly, there can be three choices:
1. PF on gross salary of Rs 80,000, i.e., Rs 9,600.
2. PF on basic wage of Rs 48,000, i.e., Rs 5,760.
3. PF on statutory wage of Rs 15,000, i.e., Rs 1,800.
In all these cases, no pension fund contribution will be made. The entire employer contribution at the above rates will go to PF alone.
If you are already a pension fund contributor, then the employer will continue to contribute Rs 1,250, being 8.33% from his share calculated on a salary of Rs 15,000, to the pension fund.
From India, Kannur
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PF CHALLAN & CALCULATION SHEET.xls
PF salab limit.pdf