Provident fund

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Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2013 can any one tell me how we calculate the pf, admin charges and edli charges of the folloeing:-
salary of a. 10000
b. 4500
c. 4500
d. 4500
e. 4500
f. 7000

@VaibhavJ

@VaibhavJ (Expert)
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02 January 2013 Hi

Any establishments employing 20 or more employees come under the PF Act. Wage ceiling of PF is Rs. 6,500/-.

The rate of PF contribution from Employees Salary is 12% of basic.

A/c No. 1 Employees Share 12% of Basic PF Employers Share 3.67% of Basic EPF

A/c No. 2 Employers Share 1.10% of total wages Admin Charges

A/c No. 10 Employers Share 8.33% of Basic Pension Fund (Max Rs. 541 & Bal to be trf to PF A/c)

A/c No. 21 Employers Share 0.50% of total wages Employees Death
Insurance (Max. Rs. 32.5)

A/c No. 22 Employers Share 0.01% of total Wages Inspection Charges (Max. Re. 0.50)

for example :- if,

Total Basis Wages Pf @12% EPF @ 3.67% Pension Fund @ 8.33%

Rs. 6,500/- Rs. 780 Rs. 239 Rs. 541/-

Then A/c No.1 Rs. 1,019/- (Total of PF/EPF Rs. 780/- + Rs. 239/

A/c No. 2 Rs. 72/- (1.10% of Rs. 6500/-)

A/c No. 10 Rs. 541/- (Pension Fund)

A/c No. 21 Rs. 33/- (0.50% of Rs. 6500/-)

A/c No. 22 Rs. 1/- (0.010% of Rs. 6500/-)
Total PF Rs. 1,639/-

Thanks!!