Dear Friends,
Kindly help me clarify the doubt regarding the admin charges calculation for Voluntary PF (deducted by Employer).
Salary per Month: 22000 (Basic: 11000, DA: 4400, HRA: 6600)
Description Employer Employee
EPF Contribution 15000 x 12% = 1800 15000 x 3.67% = 551
EPS Contribution 15000 x 8.33% = 1250
EDLIS Contribution 15000 x 0.5% = 75
EPF Administrative Charges 15000 x 0.5% = 75
If an employee wants to deposit VPF of 2000
VPF Administrative Charges is (2000/12%) x 0.5% = 83...
Is this calculation correct, Please clarify the calculation method.
With Regards,
Nijanth
From India, Tirupur
Kindly help me clarify the doubt regarding the admin charges calculation for Voluntary PF (deducted by Employer).
Salary per Month: 22000 (Basic: 11000, DA: 4400, HRA: 6600)
Description Employer Employee
EPF Contribution 15000 x 12% = 1800 15000 x 3.67% = 551
EPS Contribution 15000 x 8.33% = 1250
EDLIS Contribution 15000 x 0.5% = 75
EPF Administrative Charges 15000 x 0.5% = 75
If an employee wants to deposit VPF of 2000
VPF Administrative Charges is (2000/12%) x 0.5% = 83...
Is this calculation correct, Please clarify the calculation method.
With Regards,
Nijanth
From India, Tirupur
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