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Nilesh

Nilesh (Querist)
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03 July 2012 how to calculate pf

CA BHARATH KUMAR

CA BHARATH KUMAR (Expert)
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04 July 2012 PF Wages is Basic+VDA+FDA+Lunch Allowance etc. Generally 12% of wages wages will be deducted from employees salary and same amount of 12% will be added by the employer.

Suppose.

Basic 6500
Less PF(12% ) 780
-------
Net Salary 5720
-------
Ur PF Contribution 780
Less 8.33% on 6500 541
(To ur Pension Fund) -----
Ur Balance amount in PF 239
Add Employer 12% Contribution 780
----

So ur PF Contribution is 780/- (12% of 6500/-)+ Employer PF Contribution is 780.
And Our of ur contribution 8.33% of 6500 i.e 541 goes to ur Pension Fund. Rest of ur contribtion i.e, 3.67% (Rs.239)and Employer Contribution to u i.e.12% (780) put together Rs.1019/- goes to ur Provident Fund Account.

I hope ur PF Salary is 13000/- in which Basic is 6500 and u may be paid DA or (VDA + FDA) and Lunch Allowance.

If ur PF Salary is 10000/- ( UR PF deduction is 1200/- and employer PF Contribution is 1200 and out of 2400, Rs. 541 ( 8.33% of Rs.6500) goes to ur pension fund and rest of 1859 goes to ur Provident Fund.

Note: If PF Wage is more than 6500/- an amount of 541 (i.e, 8.33% on 6500) only goes to Pension fund.

If u have any doubts pl provide ur wage components, i will clarify ur doubts.

Bharath Kumar
+91 9481756925

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