Dear Sir,
I hv one query reg PF contribution to be deducted in below cases:
Gross (Basic+DA) Salary Rs. 6750. Working days in a month is 24 days.
Now whether PF contribution will be on Rs. 5400(6750/30*24) or on Rs. 5200 (6500/30*24)
Please adv.
Thanks & Regards
Ajay
From India, Gurgaon
2I hv one query reg PF contribution to be deducted in below cases:
Gross (Basic+DA) Salary Rs. 6750. Working days in a month is 24 days.
Now whether PF contribution will be on Rs. 5400(6750/30*24) or on Rs. 5200 (6500/30*24)
Please adv.
Thanks & Regards
Ajay
From India, Gurgaon
Is the above employee newjoiner or existing employee If new Joiner 6750/30* 24 If existing Employee 6500*30/24 If you need more clarifications you may contact me Lakshminaryana 9866917232
From India, Hyderabad
From India, Hyderabad
Ajay, Are you not paying wages for the remaining 6 days in a month? B.Saikumar HR & Labour Law advsior Mumbai
From India, Mumbai
From India, Mumbai
Dear Ajay,
PF is to be calculated and paid on the salary which you receive at the end of the month. For more clarification please go through the discussions in Citehr and search for it. It has been discussed for multiple times.
From India, Kochi
PF is to be calculated and paid on the salary which you receive at the end of the month. For more clarification please go through the discussions in Citehr and search for it. It has been discussed for multiple times.
From India, Kochi
Dear Sir,
If yopur company is deducting PF within the ceiling 6500 then it would be deducted on the amount of (6500/30*24, considering six days as LWP but if any of the absence days are paid (e.g. weekly off or paid leave) then the payment of those should also be added. PF will be deduted on that sum of amount.
Regards
From India, Pune
If yopur company is deducting PF within the ceiling 6500 then it would be deducted on the amount of (6500/30*24, considering six days as LWP but if any of the absence days are paid (e.g. weekly off or paid leave) then the payment of those should also be added. PF will be deduted on that sum of amount.
Regards
From India, Pune
Dear Vinod ji,
Thanks for your reply. 24 days working is inclusive of weekly off & paid leaves and we are paying pf contribution within the ceiling limit then calculation of amount will be as 6500/30*24. But our consultant says that calculation by 6750/30*24 comes under ceiling amount so the amount will be calculated by later method.
Please adv. your valuable suggestion.
Regards
Ajay
From India, Gurgaon
Thanks for your reply. 24 days working is inclusive of weekly off & paid leaves and we are paying pf contribution within the ceiling limit then calculation of amount will be as 6500/30*24. But our consultant says that calculation by 6750/30*24 comes under ceiling amount so the amount will be calculated by later method.
Please adv. your valuable suggestion.
Regards
Ajay
From India, Gurgaon
The ceiling amount of Rs.6500/- is applicable for those are earning more than Rs.6500/-( for the purpose of PF computation). In this case his actual earnings will be less than Rs.6500/- based on the rate of pay for him for the month. Hence PF to be computed on the actual payment received based on computation - earning on the rate of applicable. ie on 6750/- for the period of his attendance -24 days.
From India, Madras
From India, Madras
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf