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Dear All, since the range has been increased from Rs.6,500 to Rs.15,000 can you please confirm if the below calculations are correct ?
Basic +DA = Rs.10,000 , cut off amount as per PF office Rs.15,000 Employee deduction @12% on Basic+DA =Rs.1200.
Employer Contribution 8.33% of Rs.10,000 i.e Rs.833 to EPS and 3.67% of Rs.10,000 i.e Rs.367 to EPF
or is it 8.33% of Rs.15,000 i.e Rs.1250 to EPS and 3.67% of Rs.15,000 i.e Rs.550 to EPF ?
Similarly whether EDLI (by Employer) EDLI @0.5% , Admin charges @ 1.1% and EDLI Admin charges @0.01% to be calculated on Rs.10,000 (Basic+D.A) OR on the cut off range of Rs.15,000?
From India, Mumbai
Basic +DA = Rs.10,000 , cut off amount as per PF office Rs.15,000 Employee deduction @12% on Basic+DA =Rs.1200.
Employer Contribution 8.33% of Rs.10,000 i.e Rs.833 to EPS and 3.67% of Rs.10,000 i.e Rs.367 to EPF
or is it 8.33% of Rs.15,000 i.e Rs.1250 to EPS and 3.67% of Rs.15,000 i.e Rs.550 to EPF ?
Similarly whether EDLI (by Employer) EDLI @0.5% , Admin charges @ 1.1% and EDLI Admin charges @0.01% to be calculated on Rs.10,000 (Basic+D.A) OR on the cut off range of Rs.15,000?
From India, Mumbai
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls