Pf Amendment And Enhancement - Calculation Mode - PDF Download

Hi
In view of the enhancement of PF slab to Rs. 15000, doubts may arise in calculations. Enclosed article examples are shown.
May be useful. If useful forward to the needy.
Ram K Navaratna
HR Resonance
Visit: HR RESONANCE - Human Resource Development, Industrial Relations, HR/Labour law Compliance audit, Training, Recruitment and other HR related
24th September 2014 From India, Bangalore

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RN Article EPF Amendment 2014.pdf (466.7 KB, 372 views)

Dear Ram ji,
Thank you very much for your efforts in bringing in all the salient features of the amended PF Act.Very laudable cause.
As I shared in one of my earlier comments, the EDLI benefit works out to 3.6 lakhs maximum.The method, as far as I understood is...15000* 20+ 20%.
Kindly look into this.
Ashok
30th September 2014 From India, Hyderabad

Dear Mr. Ram K Navaratna,
EDLI benefit you have shown as 1.46 L
I think It will be as under :
(Last 12 months average salary * 20 times )+ 20%
After one year average salary max. will be 15000 * 20 = 300000+ 20 % = 3.60 L.
Hope you will take of note of this,
Thanks,
Vidyadhar Bhat
2nd October 2014 From India, Pune