Dear members,
Apart from 12% of P.F. we can even deducted upto full 100% P.F. on basic. the clause for the deduction is that the employee should write to your employer that he is willing to contribute as V.P.F. i.e voluntary P.F.
Voluntary P.F. could be maximum of Basic & DA full 100% but the employer is not bouind to contribute the same amount.
Employer contribution could be either 6500.00 or employee basic 12%.
I hope it will clear your doubts.
From India, Calcutta
5Apart from 12% of P.F. we can even deducted upto full 100% P.F. on basic. the clause for the deduction is that the employee should write to your employer that he is willing to contribute as V.P.F. i.e voluntary P.F.
Voluntary P.F. could be maximum of Basic & DA full 100% but the employer is not bouind to contribute the same amount.
Employer contribution could be either 6500.00 or employee basic 12%.
I hope it will clear your doubts.
From India, Calcutta
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SALARY SHEET CALCULATION.xls