Dear All,
I have some confusion regarding PF calculation. please suggest me best method and i am wright or wrong.
Our most of employees basic salary is above 10000/- so we have set limit for pf deduction is 6500/- for both and accordingly our software calculating 780/- as pf amount for both part ( employee and employer)
But problem is that, that if any employee has basic salary 15000/- and he present only for 20 days in month then what should be PF amount.
It should be 780/- or 780/30*20 = 520/- as per pf act.
Regards
Mukesh Singh
From India, New Delhi
8I have some confusion regarding PF calculation. please suggest me best method and i am wright or wrong.
Our most of employees basic salary is above 10000/- so we have set limit for pf deduction is 6500/- for both and accordingly our software calculating 780/- as pf amount for both part ( employee and employer)
But problem is that, that if any employee has basic salary 15000/- and he present only for 20 days in month then what should be PF amount.
It should be 780/- or 780/30*20 = 520/- as per pf act.
Regards
Mukesh Singh
From India, New Delhi
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls