About EPFO Basic
This query is : Resolved
19 April 2022
What is included in PF basic salary
Message likes :
1 times
06 July 2024
In the context of Provident Fund (PF), "basic salary" refers to the core component of an employee's salary that is considered for calculating PF contributions. It typically includes:
1. **Basic Pay**: This is the fixed component of an employee's salary that is agreed upon in their employment contract. It does not usually include other allowances or overtime pay.
2. **Dearness Allowance (DA)**: Some organizations include DA as part of basic salary for PF calculation purposes, especially if DA is fixed and forms a regular part of the employee's compensation.
3. **Retaining Allowance**: If any retaining allowance is paid by the employer to employees to encourage them to not to leave the organisation
1. **Basic Pay**: This is the fixed component of an employee's salary that is agreed upon in their employment contract. It does not usually include other allowances or overtime pay.
2. **Dearness Allowance (DA)**: Some organizations include DA as part of basic salary for PF calculation purposes, especially if DA is fixed and forms a regular part of the employee's compensation.
3. **Retaining Allowance**: If any retaining allowance is paid by the employer to employees to encourage them to not to leave the organisation
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- TDS on rent received on hardship compensation being rent on redevelopment of building
- ITR-Capital Gain
- Gst on travel by air for business purposes
- Query regarding reporting of exempt foreign remuneration in ITR
- Loss of interest in PF transfer from EPFO to Trust
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Taxation on Old jewellery sold
- NRI INSURANCE ADVISOR
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
