P.f

This query is : Resolved

Sankar Chakraborty (Querist)
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22 February 2012 Dear Experts,

I knew that PF. Would be calculated on Basic salary = / <6500/-
But in an organization an employee is paid as under:
Basic = 6500/-
Fixed D.A = 2000/-
H.R.A = 4600/-
Spl. Allow.= 4000/-
Gross salary = 17100/- where deductions are P.tax = 130/- P.F. 1020/- Net pay = 15950/-

Here P.F is calculated on 6500+2000 = 8500/- x 12%

My question is is it Right ?

please confirm by answer

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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22 February 2012 Yes. your calculation correct

Sankar Chakraborty

Sankar Chakraborty (Querist)
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23 February 2012 My question was to what extent amount pf applicable / not applicable viz.
basic salary=/<(amount ?)

G.Ramesh

G.Ramesh (Expert)
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23 February 2012 Dear Mr.Sankar, As per pf act up to 6500/- basic pf deduction is compulsory, once you deducted 8500/- (basic +da) , you have to continue the same for that employee

Sankar Chakraborty

Sankar Chakraborty (Querist)
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23 February 2012 thanks sir

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