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Salary break up in light of new pf rules 2014
Ours is a private limited company where no salary break up there in place. Ctc is what we get in actual. However in light of the new pf rules applicable from 1st sept 14, we need to put a salary break up in place. Please suggest me the percentage break up of monthly gross salary as per the act (both pf &income tax) so that in case an inspection takes place, there will be no problem. Currently the minimum salary provided to employees is rs 8k. Apart from dat we have housekeeping employees whose salary starts at rs 4000. Plz let me knw the % of break up.
Thanks & regards
Replies (3)
What is existing % of Basic to Gross..
Also is PF contributef for all employees?
100% is d basic to gross. Pf fr all till 15k basic as per new pf rule.
60% to 40% Basic of CTC amt
30% to 40 % HRA on Basic
10% to 15 % Medical on basic
10% conv,allow,on basic
+ orther allowance under sec,80/c limit
this is general practice iof salary break up
B B Sharma
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