PF method Basic+DA >=1500, 1800 otherwise 12% of Basic+DA
This logic works fine for existing staff. However for a staff who joins in the month of payroll run, the software is calculating PF on prorata as per number of days.
Example
Date of joining: 15 April 2015
Basic +DA = 20000 for current month for 15 days
System is calculating PF as 1800*15/30=900
Is this as per PF policy?
This scenario happens only in the first month of joining. Then in it calculates on actual earnings and not as per number of days.
Rajesh
From India, Hyderabad
This logic works fine for existing staff. However for a staff who joins in the month of payroll run, the software is calculating PF on prorata as per number of days.
Example
Date of joining: 15 April 2015
Basic +DA = 20000 for current month for 15 days
System is calculating PF as 1800*15/30=900
Is this as per PF policy?
This scenario happens only in the first month of joining. Then in it calculates on actual earnings and not as per number of days.
Rajesh
From India, Hyderabad
517Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls