Calculation of EPF

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..... Respected All, I have a doubt about Arrear Calculations for PF. Pls. clarify the proper method of deduction in following case where PF Basic Salary restricted To Rs. 6500.00 - 1) In the month o .....

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..... f Sept 2010 Employee Basic Salary - 6000.00 2) Employee PF Deducted In Sept 2010 - Rs. 720.00 3) In The Month Of Oct 2010 Basic Salary Revised w.e.f. Sept 2010 - Rs. 8000.00 In The above given case w .....

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..... hat would be the deduction amount towards PF - Basic Salary in Oct 2010 - Rs. 8000.00 Basic Salary Arrear in Oct 2010 - Rs. 2000.00 1) Minimum of (Basic Salary+Basic Salary Arrears, 6500) *12% = min( .....

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..... (8000+2000),6500)*12% = min(10000,6500)*12% = 6500*12% = Rs. 780.00 2) (min(Basic Salary For Oct 2010 Month,6500)*12%)+(min(Revised Basic Salary for Sept 2010,6500)*12% - PF Already Deducted in Sept .....

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..... 2010) =(min(8000,6500)*12%)+(min(8000,6500)*12%-720) = (6500*12%)+((6500*12%)-720) = 780+(780-720) = 780+60 = 840.00 Which one is the correct method? Pl. Suggest. Regards. Pradeep Ka .....

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..... ushik - Reply By KRISHNAN SURYANARAYANAN - The Reply = The second set of calculations is correct. - Calculation of EPF - Query Started By: - Pradeep Kaushik Dated:- 20-9-2011 Other Topics - Got 1 .....

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..... Reply - Indian Laws - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTM .....

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..... I - TMITax .....

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