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Pf deduction

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(Querist)
05 January 2013 Whether PF will be deducted on basic pay or earned salary.
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NareSh

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NareSh (Expert)
05 January 2013 Pf 12% will be deducted on the Basic pay + DA
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@VaibhavJ

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@VaibhavJ (Expert)
05 January 2013 Hi

Yes it is calculated on earned Basic + DA salary.

So e.g. if your Basic + DA is Rs. 20,000 & you worked for 15 days after 30 days, then you will get Rs. 10,000/- as earned Basic + DA & PF will be deducted on 10K.

Thanks!!
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Sanket

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Sanket (Expert)
05 January 2013 In Act, it is clearly mention that when basic & d.a. is above Rs.6500 at the time of joining then he may not become the member for PF. But employers contribution is limited to 12% on Basic & D.A. but employee can increase his share upto 20% but only after prior permission from PF Commissioner.
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