Pf & Professiona Tax Recovery On Resignation - XLS Download

Dear All
Kindly advise me about the calculation of PF & PT at the time of resignation of an employee, for Eg:
As per rule employee need to serve 1 month Notice period,
he/she served 17 days notice period out 31 days.
co. is fixed max PF slab as Rs780/- for those who drawing more than Rs6500/- as Basic+DA.
Now we need to pay him/her 14 days Salary (31 - 17) (3 days LOP + 14 days Notice Period Receovery)
for that 14 days his/her basic+da is more than Rs6500/-
So we have to deduct Rs780 or 780/31*14(only proportinate days contribution)
Same way PT is Rs200/31*14 or Full amount of Rs200
Please advise
Baginesh
2nd January 2010 From India, Bangalore

PF is to be deducted out of the Basic + DA of actual salary paid only. Similarly, Profession Tax should also be deducted out of actual salary paid for the month. Regards, Madhu.T.K
2nd January 2010 From India, Kannur

Dear madhu Sir
My doubt was, if employee is worked for 14 days and his actual basic+Da is more than Rs6500/- whether we need to deduct full amount of contribution for a month rs780/- as the max PF amount fixed for those who are drawing more than Rs6500 as basic+DA OR Rs352 (780/31*14)
Bagi
4th January 2010 From India, Bangalore

Dear Bagi, For 14 days only u have to deduct PF Amount on Basic+DA Of 12% only morethan 6500/- charu
4th January 2010 From India, Hyderabad

Dear Bhagi,
Although the person worked for 14 days but for salary computation basic for 14 days is more than Rs. 6500/- therefore one must apply the same rule which you had applied in paying Rs.780/- as PF.
Therefore, you have to deduct PF on Rs. 6500/- i.e Rs. 780/-
Likewise for Professional Tax, after computing the monthly gross, you have to check whether the monthly gross has come in to which slab and accordingly you have to deduct the PT.
PT Slabs..... (pls. verify the slabs with your accounts dept)
Upto Rs.5000---Nil
Rs.5000-Rs.6000--Rs.60-/-
Rs.6001-Rs.10,000--Rs.80-/-
Rs.10,001-Rs.15,000--Rs.100-/-
Rs.15,001-Rs.20,000--Rs.150-/-
Rs.20,000 above Rs.200-/-

I hope I have solved your query. feel free to write again.

Thanks & Regards
Prachi Hardas
4th January 2010

Dear Charu, Seema & Prachi
Thanks for your valuable time and suggestions.
Sorry if am wasting your time, still i got doubt, please find the attached file which i have prepared for more clarification. kindly check the same and advise me for last, and am working in Bangalore and heard that PT slab is as
Rs.150 for Rs10,000 to Rs14,999/-
Rs.200 for Rs15,000 and Above
Correct me if am wrong,
Bagi
5th January 2010 From India, Bangalore

Attached Files (Download Requires Membership)

PF Recovery Doubt.xls (22.0 KB, 899 views)

sorry u wil get PT Slab information from google site.in case if u have any quiries please let me know charu
5th January 2010 From India, Hyderabad

HI Bagi,
I have seen the calculation posted by you and also checked the google web to understand PT Slabs in Karnataka.
As I understand,
Monthly Gross(NET BEFORE DEDUCTIONS) is Rs. 31000/- (in the given case study) therefore the Last Slab of PT is applicable which is "Rs.15,000/- and above Rs200/-"
Therefore you have to deduct Rs.200/- for PT.
FYI
Thanks & Regards
Prachi Hardas
12th January 2010

Dear Bagi,
Deduction PF 12 % is considered only on earning basic + D A . not consider for working days . if basic + DA salary beyond Rs 6500 as ceiling of PF within 14 days worked , you should deduct Rs 780 as PF deduction . at the same time you just put deduction for the remaining 17 days wages in Full and Final Settlemet like following the formula = Gross salary /26 *17 days
need not worry in deduction of PF Calculation during Notice Period ....( Notice period only company internal policy , not for PF )
Regards,
K.Ganesh
3rd August 2013 From India, Madras