Query about epf
This query is : Resolved
01 October 2014
I calculate EPF on an employee as follows
BASIC:- 8000
Personal Development allowance:- 2000
Education Allowance:- 2000
Total CTC is:- 12000/-
EPF is calculated on 8000.
Increment is applicable yearly on April. An employee was getting Basic 6000 for FY13-14, He got increment on Basic from 6000 to 8000 in April, then against He got increment on Basic on 8000 to 10000 in August. I want to know should I start calculation EPF on Basic 10000/- or 8000/-, becoz as I was advised to keep calculcating EPF on Basic 8000/ till september 14, for Oct's salary EPF will be calculated on 10000/- on wards.
BASIC:- 8000
Personal Development allowance:- 2000
Education Allowance:- 2000
Total CTC is:- 12000/-
EPF is calculated on 8000.
Increment is applicable yearly on April. An employee was getting Basic 6000 for FY13-14, He got increment on Basic from 6000 to 8000 in April, then against He got increment on Basic on 8000 to 10000 in August. I want to know should I start calculation EPF on Basic 10000/- or 8000/-, becoz as I was advised to keep calculcating EPF on Basic 8000/ till september 14, for Oct's salary EPF will be calculated on 10000/- on wards.
02 October 2014
From 1st September EPF has to be calculated on 10,000.
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