PF CALCULATION

Pf Is Deducted On Basic Salary i.e. Basic + DA is Rs. 6500/- or less ,

(This contribution is only optional because some company may have their own policies )

      1)Employee a/c 12%  (Basic + DA & food allowance retaining if any )

      2)Employer a/c 13.61%  (Basic + DA & food allowance & retaining allowance if any)  

(PF 3.67% +pension scheme 8.33%+admin charges 1.10% of pf + EDLI 0.5%+ admin charges of EDLI 0.01%)

EPF :

PF IS NORMALLY DEDUCTED FROM THE BASIC & DA

35% ON SALARY AS BAISC

15 % AS DA OUT OF GROSS SALARY

For example gross salary of a person is 10,000/- pm

Basic 35% @ 10,000  -  i.e. 3500

DA  15%  @ 10,000  - i.e. 1500

Total :- Basic +DA = 5000 /- pm

Employee contribution = 5000*12/100  = 600/-

Employer contribution = 5000*13.61/100= 680.5/-

Employer contribution calculation:-

     1.       Epf  a/c 1                                      = 5000*3.67/100 = 183.5/-

     2.       Epf admin charges   i.e               =5000*1.1/100    =  55.0/-

     3.       Pension fund a/c no 10              = 5000*8.33/100 = 416.5/-

     4.       a/c no 21 EDLI                              =5000*.05/100    = 25/-

     5.       EDLI ADMIN CHARGES              = 5000*.01/100    = .5/-