salary definition for PF contribution
This query is : Resolved
14 May 2011
Dear All,
whether salary includes basic pay, DA (if it is taken for retirement benefit)and encashment of earned leave
whether salary includes basic pay, DA (if it is taken for retirement benefit)and encashment of earned leave
14 May 2011
Apart from Basic Salary, Dearness Allowances (variable according to changes in cost of living index or fixed as a percentage of basic pay) and Retaining allowances (allowances paid to employee(s) to retain his skill especially when there is no work due to any reason) are part of salary for the purpose of EPF contribution. If the salary structure does not include any DA but includes something called 'special allowance', the same may also be treated as part of salary for the purpose of EPF contribution. The reason being that special allowances may be interpreted as an allowance to meet changes in cost of living and as such it will have all attributes of DA.
14 May 2011
Basic Wages:
"Basic Wages" means all emoluments which are earned by employee while on duty or on leave or holiday with wages in either case in accordance with the terms of the contract of employment and witch are paid or payable in cash, but dose not include
The cash value of any food concession;
Any dearness allowance (that is to say, all cash payment by whatever name called paid to an employee on account of a rise in the cost of living), house rent allowance, overtime allowance, bonus, commission or any other allowance payable to the employee in respect of employment or of work done in such employment.
Any present made by the employer.
"Basic Wages" means all emoluments which are earned by employee while on duty or on leave or holiday with wages in either case in accordance with the terms of the contract of employment and witch are paid or payable in cash, but dose not include
The cash value of any food concession;
Any dearness allowance (that is to say, all cash payment by whatever name called paid to an employee on account of a rise in the cost of living), house rent allowance, overtime allowance, bonus, commission or any other allowance payable to the employee in respect of employment or of work done in such employment.
Any present made by the employer.
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14 May 2011
Whether Encashment of earned leave form part of salary for the purpose of EPF contribution?
18 May 2011
yes its part of salary
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