Should we calculate EDLI Admin charges (PF related) on total EDLI Wages of the Company or on the individual contribution of the member ?
For Example: Total EDLI Wages of 5 Members 41,951/-
if we calculate on total wages Charges will 0.01% = 4/-
But if we calculate on individual wages
15,000 = 2
15,000 = 2
5,661 = 1
6,290 = 1
41,951 = 6
It will be Rs 6/-
from first method we get Rs 4/- & in Second method we get Rs 6/-. Which one is Correct ? Please anybody help
For Example: Total EDLI Wages of 5 Members 41,951/-
if we calculate on total wages Charges will 0.01% = 4/-
But if we calculate on individual wages
15,000 = 2
15,000 = 2
5,661 = 1
6,290 = 1
41,951 = 6
It will be Rs 6/-
from first method we get Rs 4/- & in Second method we get Rs 6/-. Which one is Correct ? Please anybody help