Provident fund calculation
This query is : Resolved
28 January 2014
EDLI charges are supposed to be calcualted on pensionable salary or BASIC + DA?
For e.g.
Basic-7000 DA-3000
EDLI will be:
a) 10000*0.5%= 50 or
b) 6500*0.5%= 32.5
In the same manner, on what amount Admin charges and EDLI admin charges are to be calcualted?
For e.g.
Basic-7000 DA-3000
EDLI will be:
a) 10000*0.5%= 50 or
b) 6500*0.5%= 32.5
In the same manner, on what amount Admin charges and EDLI admin charges are to be calcualted?
28 January 2014
Hi
You have to calculate on 6500 i.e. max contri is 32.5
Thx
You have to calculate on 6500 i.e. max contri is 32.5
Thx
28 January 2014
Yo may refer:
https://www.caclubindia.com/forum/pf-
calculator-276660.asp
https://www.caclubindia.com/forum/pf-
calculator-276660.asp
Message likes :
1 times
29 January 2014
Sir,
On what amount Admin charges and EDLI admin charges are to be calculated? Basic + DA or pensionable salary?
On what amount Admin charges and EDLI admin charges are to be calculated? Basic + DA or pensionable salary?
29 January 2014
Thanks for sharing the file. It was crystal clear now.
But,
Sir,
If there is a company policy stating that if the basic + DA is less than 6500 then the company would add the washing allowance to it so that it will exceed 6500 and they will calculate the pf on 6500.
For e.g
1.Basic + DA - 6400
washing allowance - 200
both together - 6600 which is > 6500..so calculate PF on 6500
2.Basic + DA - 6000
washing allowance - 200
both together - 6200 which is still < 6500..so calculate on 6200 only.
Can they have such a policy? Is it inline with Law/ Act?
But,
Sir,
If there is a company policy stating that if the basic + DA is less than 6500 then the company would add the washing allowance to it so that it will exceed 6500 and they will calculate the pf on 6500.
For e.g
1.Basic + DA - 6400
washing allowance - 200
both together - 6600 which is > 6500..so calculate PF on 6500
2.Basic + DA - 6000
washing allowance - 200
both together - 6200 which is still < 6500..so calculate on 6200 only.
Can they have such a policy? Is it inline with Law/ Act?
29 January 2014
HI
Washing Allowance is not to be considered for PF contribution.
Thx
Washing Allowance is not to be considered for PF contribution.
Thx
29 January 2014
Sir,
The company is also adding performance allowance, conveyance to BASIC + DA? Is it correct if they add all these except washing allowance?
The company is also adding performance allowance, conveyance to BASIC + DA? Is it correct if they add all these except washing allowance?
29 January 2014
Hi
As per PF rule only Basic + DA to be added.
Thx
As per PF rule only Basic + DA to be added.
Thx
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