% of basic salary of ctc for pf calculation ?


lokshkumar (article)     23 December 2015

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I Have Gross salary of Rs. 14,000/- P.M. How Much Basic Salary(%) would be ?

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KAVIRAJA ADDANGADI (PROPRIETOR)     23 December 2015

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It depends on Company Policy , While Calculating Basic Salary we have to consider Minimum Salary for Each Designation / Industry/Zone normally 50% of Gross considered as Basic it should not less than minimum Basic wages Prescribed by the state of Law. 40% of Basic HRA , CA-1600 Rest OA. Finally Each company have there Own Policy for calculating Basic , but they have to pay minimum Basic prescribed by Mimimum Wages Act.

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@VaibhavJ (Believe!! Live your dreams!)     23 December 2015

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Your basic could be as low as Minumum wages notidied bu your State..

 

Thanks

@ VaibhavJ

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KAVIRAJA ADDANGADI (PROPRIETOR)     23 December 2015

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Sorry, basic wages should not be the minimum wage. Other wise minimum wage act loose its significance.

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bikram ray (accounts executive)     24 December 2015

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Nice but sir. Please give details information.

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bikram ray (accounts executive)     24 December 2015

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Nice but sir. Please give details information.

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N. Rajendran (Manager - Accounting)     24 December 2015

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Hi,

In my view for EPF Calculation share the CTC as per below.

60% Basic and 40% HRA. as per your CTC PA is 14000*12=168000

Basic salary for EPF PM 60% of 14000  is Rs. 8400 your EPF amount is 12% of 8400 Rs. 1008 PM

 Thanks

N. Rajendran


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