Dear Experties,
please guide me to calculation of pf on salaries,since pf regional officer asking to calculation on 50% of gross salary.
Menu
Pf calculation on salariee
Replies (3)
For PF deduction there are 4 rules as mentioned below:
1) 12 % of basic salary
2) 12 % of basic salary with 1800 cap
3) 12% Gross-HRA (all the fixed salary heads are included except HRA)
4) 12% Gross-HRA with 1800 cap (all the fixed salary heads are included except HRA)
50 ٪ of gross salary nowwhere it is mentioned.
In a basic salary calculation, the Provident Fund (PF) is calculated by considering the Basic Wage and Dearness Allowances. The employee contributes 12% of their Basic Wage + Dearness Allowances towards PF, while the employer contributes 3.67% towards PF on the same amount. Additionally, the employer also contributes 8.33% towards a pension scheme for the employee.
Recent Topic
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
- Internal reconstuction
- IDS Refund – Annexure B & GSTR-3B Match,
- Can i should STCG and LTCG as business income ?
- Capital contribution in Firm
- Form 3CD – Clause 20(b) | ESI Contribution &
- Capital Gains on Dissolution of Partnership
Related Topics
CAclubindia
