PF Calculation
This query is : Resolved
CA Usha Rani Challa
(Querist)
16 June 2010
Whether PF can be calculated on the basis of number of working days?? Generally what will be the percent of basic salary on the total salary?
CMA Ramesh Krishnan
(Expert)
16 June 2010
Based on company policy it will differ 30%, 40%,50% on Gross salary, and PF need to be calculated 12 % of Basic which need to pay actually , if the Basic calculated based on working days PF also calculated based on the same
16 June 2010
agreed, % of basic salary is depend on the company policy. It is differe company to company.
CA Usha Rani Challa
(Querist)
16 June 2010
Can a Company follow the policy that they may be same basic salary for different class of employees with different total salaries?
i.e. say the basic salary will be Rs. 1,500 for every employee whose salary will be either Rs. 25,000 or Rs. 18,000 or Rs. 15,000 or Rs. 10,000 or even Rs. 2,500. During our audit we find this. So we have doubt whether the Company can do so?
i.e. say the basic salary will be Rs. 1,500 for every employee whose salary will be either Rs. 25,000 or Rs. 18,000 or Rs. 15,000 or Rs. 10,000 or even Rs. 2,500. During our audit we find this. So we have doubt whether the Company can do so?
16 June 2010
mININUM BASIC IS SPECIFIED AS PER WAGES ACT AS PER CATERGORY OF EMPLOYEES LIKE SKILL, UNSKILL ETC .
PLEASE CLICK ON BELOW LINK FOR DETAIL.
https://www.paycheck.in/main/officialminimumwages
PLEASE CLICK ON BELOW LINK FOR DETAIL.
https://www.paycheck.in/main/officialminimumwages
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