Dear Seniors, We have one query : 1. Is PF amount calculated on Incentives earned during the month ? Pls Guide & Advice
From India
3From India
Hi Milind , PF Is always caluclated on Basic ,which does not have direct relation to the incentive . so as per my knowledge PF can not be caluclated incentives . Regards Viyannar
From India, Hyderabad
From India, Hyderabad
Dear All,
Recently, we had the enforcement officer waking into our company, who reiterated that there PF needs to be calculated on the incentive as well if it is paid monthly. He also showed a citation to that effect. i am in search of that. He said the citation is available in the new edition of PF Act.
regards
From India, Madras
Recently, we had the enforcement officer waking into our company, who reiterated that there PF needs to be calculated on the incentive as well if it is paid monthly. He also showed a citation to that effect. i am in search of that. He said the citation is available in the new edition of PF Act.
regards
From India, Madras
Dear All PF will be calculated on the basis on the fixed salary not with any variable component and incentives. The incentives will come under other earnings. Regards Bhuvana
From India, Madras
From India, Madras
As per our PF Office in Chennai, whatever the employee is paid such as basic, da, conveyance allowance, attendance bonus, special allowance, INCENTIVE etc. will be taken for PF calculation except HRA, OT, Bonus, Commission etc. Is this right? Appreciate a response. Usuf Ali, Chennai
From India, Madras
From India, Madras
If you have the divided your salary structure between Basic,HRA,conv. etc. then you have to pay the PF only on Basic Salary else it will be calculated on Gross.
But in both the cases you may deduct maximum PF of Rs. 780 per employees if their salary is exceeding by Rs6500 per month.
Regards
Sanjeev Kwatra
From India, Delhi
But in both the cases you may deduct maximum PF of Rs. 780 per employees if their salary is exceeding by Rs6500 per month.
Regards
Sanjeev Kwatra
From India, Delhi
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