Provident fund
This query is : Resolved
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
salary of a. 10000
b. 4500
c. 4500
d. 4500
e. 4500
f. 7000
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!!
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!!
16 January 2013
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