Basic calculation in salary

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Querist : Anonymous

Querist : Anonymous (Querist)

17 June 2013 How calculate the pf amount on basic salary? What is the % of the basic salary? Which is the site which will be update on Provident fund, ESIC and minimum wages? How one should get update the detail about it from reliable and authentic site?
How to arrive the amt of HRA? How to decide the amount HRA in basic salary?

CA SMR

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18 June 2013 12% on basic salary is employees' contribution
Employer's Contribution-
Employee Pension Scheme-8.33% of Rs 6500/-or the basic whichever is less.
EPF-12% of Basic-EPS

Websites-
https://www.epfindia.gov.in/
esic.in

CA SMR

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18 June 2013 HRA received in exempt u/s 10(13A)to the extent of the minimum of the following three amounts.

Actual House Rent Allowance received
Excess of rent paid for the accomodation occupied by him over 10% of the salary for the relevant period
50% of the salary when the house is situated in Mumbai,Calcutta,Delhi and Chennai and 40%in case of any other place.
Salary includes dearness allowance if the terms of employment so provide.Any other allowance or perks are excluded.

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