What will be the possible PF employer and PF employee contributions when my monthly gross is 50,000 with the distribution as follows: (when 1.16% of additional is allowed and not allowed under EPS schemes)
Say, Monthly CTC: 50,000 /-
Basic: 20,000
HRA: 10,000
Medical: 1,250
LTA: 1,600
Conveyance: 3,000
Food Coupons: 3,000
Special: 11,150
Total: 50,000
PF - Employee: 2,400
PF - Employer: 2,400
Can someone help me in projecting the values for PF employer (EPF, EPS, EDLI admin charges when 1.16% of additional is allowed to the pension scheme and not allowed to pension scheme cases).
From India, Hyderabad
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Say, Monthly CTC: 50,000 /-
Basic: 20,000
HRA: 10,000
Medical: 1,250
LTA: 1,600
Conveyance: 3,000
Food Coupons: 3,000
Special: 11,150
Total: 50,000
PF - Employee: 2,400
PF - Employer: 2,400
Can someone help me in projecting the values for PF employer (EPF, EPS, EDLI admin charges when 1.16% of additional is allowed to the pension scheme and not allowed to pension scheme cases).
From India, Hyderabad
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Employees: 2400/- is directly credited to account number 1. The employer's contribution is split, with 1250/- going into account 10 and the remaining 1150/- in account 1. The Employee's Deposit Linked Insurance (EDLI) at 0.5% is automatically calculated by the portal. The EDLI salary and EPF salary are both 15000/-, making the EDLI contribution 75/-.
Administrative charges are now at 0.5%, which amounts to 20000*0.5/100 = 100 (subject to a minimum payment of 500/- per month per establishment for all employees accumulated).
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725Administrative charges are now at 0.5%, which amounts to 20000*0.5/100 = 100 (subject to a minimum payment of 500/- per month per establishment for all employees accumulated).
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