@Rinki
Salary breakup should be in a structural way.
in your attachment the breakup like conv & hra is variable but not in a fixed %.
Basic + DA = should never be lesser than 50% of gross.
HRA cannot be greater than 50% of basic and 30% of gross.
Rest all allowace can be defined as per need but in a proper grade wise structural way.
In case of any query, feel free to call me on 9810654048.
From India, Delhi
1Salary breakup should be in a structural way.
in your attachment the breakup like conv & hra is variable but not in a fixed %.
Basic + DA = should never be lesser than 50% of gross.
HRA cannot be greater than 50% of basic and 30% of gross.
Rest all allowace can be defined as per need but in a proper grade wise structural way.
In case of any query, feel free to call me on 9810654048.
From India, Delhi
ASB,
You have not correctly posted your salary details. Your Basic salary may be Rs.9,375/- and not 9357 as mentioned by you. So be very careful while furnishing the details. Besides, we do not know the Terms & Conditions of your appointment. However, looking at your post, followings are my views.
If your employer or the "Heman" Resource Manager is deducting both the PF contributions (Employee's & Employer's) from your salary tell them not to do any charity for you. Deduct only 12% contribution on your earned Basic salary, which is prescribed in the EPF&MP Act, 1952. If he is not listening, write mail to his superior or the Management.
Also inform your HRM that PF Contribution is not payable on Bonus amount. First of all Bonus is not payable on a monthly basis. Its totally depend upon Profit & Loss account of the Company as per the provisions of Bonus Act. Company cannot just pay you only 8.33% Bonus. He has calculated minimum Bonus amount of Rs.7,000/- per annum, which is also not correct. You are eligible minimum amount of Bonus of Rs.782 per month @8.33% (as per Minimum Wages).
Whatever you stated in your post is correct, than you are right and your HR Manager is not suitable for HR dept. who doesn't know basic things of HR.
Suresh
From India, Thane
You have not correctly posted your salary details. Your Basic salary may be Rs.9,375/- and not 9357 as mentioned by you. So be very careful while furnishing the details. Besides, we do not know the Terms & Conditions of your appointment. However, looking at your post, followings are my views.
If your employer or the "Heman" Resource Manager is deducting both the PF contributions (Employee's & Employer's) from your salary tell them not to do any charity for you. Deduct only 12% contribution on your earned Basic salary, which is prescribed in the EPF&MP Act, 1952. If he is not listening, write mail to his superior or the Management.
Also inform your HRM that PF Contribution is not payable on Bonus amount. First of all Bonus is not payable on a monthly basis. Its totally depend upon Profit & Loss account of the Company as per the provisions of Bonus Act. Company cannot just pay you only 8.33% Bonus. He has calculated minimum Bonus amount of Rs.7,000/- per annum, which is also not correct. You are eligible minimum amount of Bonus of Rs.782 per month @8.33% (as per Minimum Wages).
Whatever you stated in your post is correct, than you are right and your HR Manager is not suitable for HR dept. who doesn't know basic things of HR.
Suresh
From India, Thane
PF will be deducted on basic and DA
In most cases special allowances are same as DA
so PF will be deducted on the total of both.
The PF department is already fighting the matter in Supreme Court where it is saying that the act says it is to be given on entire fixed component and there is a good chance of the SC giving the judgement in favour of the PF department. So they are being careful and the final difference in any case is small
From India, Mumbai
In most cases special allowances are same as DA
so PF will be deducted on the total of both.
The PF department is already fighting the matter in Supreme Court where it is saying that the act says it is to be given on entire fixed component and there is a good chance of the SC giving the judgement in favour of the PF department. So they are being careful and the final difference in any case is small
From India, Mumbai
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls