how much the minimum basic salary to calculate p.f.
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Minimum salary is governed by the 'Payment of Minimum Wages
Act' in India. For the purpose of contribution to 'Employees
Provident Fund, Basic Salary+DA is considered, It needs to
be calculated on actual Basic+DA, if it's less than Rs.
6500/- per month and on Rs. 6500/- if it's more than that
amount. However, an employer & employee can contribute on
the actual amount of Basic+DA, if it's higher than
Rs.6500/-, PF Contribution on Rs. 6500/- comes to Rs.780/-
(i.e. 12%.
For detailed information, refer 'Employees' Provident Fund &
Miscellaneous Act' or consult a labour law expert or contact
the EPF office.
Is This Answer Correct ? | 57 Yes | 2 No |
Answer / vadivelan m
Minimum salary for calculation P.F.should be based on
Minimum wages act basis. there is some categorized based on
the designation of employees.
Is This Answer Correct ? | 45 Yes | 21 No |
Answer / minimum salary is governed by
Minimum salary is governed by the 'Payment of Minimum Wages
Act' in India. For the purpose of contribution to 'Employees
Provident Fund, Basic Salary+DA is considered, It needs to
be calculated on actual Basic+DA, if it's less than Rs.
6500/- per month and on Rs. 6500/- if it's more than that
amount. However, an employer & employee can contribute on
the actual amount of Basic+DA, if it's higher than
Rs.6500/-, PF Contribution on Rs. 6500/- comes to Rs.780/-
(i.e. 12%.
For detailed information, refer 'Employees' Provident Fund &
Miscellaneous Act' or consult a labour law expert or contact
the EPF office.
Is This Answer Correct ? | 26 Yes | 6 No |
Answer / ganesh
6500 basic salary including DA.pf 12% deduction from
employee side and 12% contribution by employer side.
Is This Answer Correct ? | 22 Yes | 4 No |
Answer / chetna
2500/-up to 6500/-. basic gross salary required is 4502
Is This Answer Correct ? | 5 Yes | 1 No |
Answer / javed alam
No body do not know,what is law,what law says....
Is This Answer Correct ? | 13 Yes | 10 No |
Answer / dinesh singh budwal
it depend upon the state minimum wages rule,
Is This Answer Correct ? | 11 Yes | 8 No |
Answer / banoj kumar swain
Minimum salary for calculation P.F.should be based on
Minimum wages act basis.
Is This Answer Correct ? | 8 Yes | 9 No |
Define the accounting entries for payments
Explain me your current/former role, your responsibilities, and how success is/was measured?
WHY DON'T WE TAKE BANK AND CASH ACCOUNTS INTO REALISATION
Vendor A/c Dr To Purchases A/c Cr In an entry what "TO"(Near Purchase) means or stands for or used for or from which accounting angle we have to use.
What is Time capital
What is the differance between Captial & revanue?
what will be the entry for credit purchases with discount
explain me what steps would you take to increase revenue for this company?
HOW GET DUTY AND DRAWBACK ? ON WHICH TYPES ITEMS WE GET DUTY DRAW BACK?
What is the Project Accounting in case of Real Estate or Construction Co`s ?
what is the three basic rule of journel
If we don't use Contra Book, instead which book is to be operated CASH BOOK or BANK BANK for: e.g.Cash withdrawl from Bank or Cash deposited in Bank