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salary

Jayaram Meher (17 Points)

15 December 2018

HOW to calculate salary in case of providend fund

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SONAM PARASHAR (17 Points)
Replied 15 December 2018

12% pf the employer's provident fund exempted and employee' provident fund get deduction in section 80C of the income tax act.

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Jayaram Meher (17 Points)
Replied 15 December 2018

salary include ?????????

SONAM PARASHAR (17 Points)
Replied 15 December 2018

Basic pay + allowance + perquisites.

1 Like

Nitesh bind (Student CA Final ) (12692 Points)
Replied 15 December 2018

Salary for the purpose of PF includes BASIC PAY+DA .

Perquisites are not taken.

4 Like

Jayaram Meher (17 Points)
Replied 15 December 2018

yes but in income tax book (B.COM) there are 3 cases for computation is salary
1= BASIC PAY
2=Basic pay + DA if enter
3= basic pay+ DA if enter+Commission
which is right among the following above

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Nitesh bind (Student CA Final ) (12692 Points)
Replied 15 December 2018

Commission which is part of Term of Joining is also considered as basic pay.

But that can't be called as Perquisites.

5 Like

MOHAMMED IMRAN (1020 Points)
Replied 15 December 2018

salary for the purpose of providend fund
basic + DA/DP if forming part salary for all retirement benefits + commission on turnover
employers contribution to
statutory PF -fully exempted
RPF-in excess of 12% is taxable
URPF- not taxable yearly (at the time of retirement it is taxable as salary)

1 Like