Bhavesh (Accounts) (899 Points)
09 December 2012Hi, Freinds i am going to Join a Firm, they have a provide me a salary structure. The Salary Structure shows Twice Deduction of EPF.
Whether the Deduction is Correct, they have given me a 15 Days time to Join the Firm. Kindly Advice.
Thanks in advance.
@VaibhavJ
(Believe!! Live your dreams!)
(33516 Points)
Replied 09 December 2012
Hey
First of all congrats for getting offer..
In PF employer as well as employee both are required to contribute PF @ 12% of Basic Salary.
Rs. 18334 is nothing but CTC, and CTC includes Your Gross Salary plus employer contribution towards taxes like PF, ESI.
So to arrive at net pay PF contribution of both employer & employee is deducted from CTC.
CAclubindia
