UMA GUPTA (Manager Finance) (66 Points)
02 September 2015
Kumar Sushank
(General Manager - Finance)
(1040 Points)
Replied 15 June 2019
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However I am giving calculation with details, which will be helpful for you.
12 % of Basic Salary will deduct from Employees as his contribution in PF
Same 12 % will deposit by employer. That means total 24% of basic will deposited by employer in EPFO.
Suppose : Basic Salary of any employee is 12,000/- then you will deduct 1,440/- from employee & same amount contribute by employer also (where EPS Contribution will be 8.33% of basic 1,000 and rest 3.67% of basic 440/- will be adjust in PF).
1. If Basic is more than 15,000/- then 1250 will deposit under Pension Fund and rest will adjust in PF.
2. If joining Date is after 01-09-2014 and basic salary is more than 15,000/- then in that case he is not avail the benefit of pension fund. Total 12 % of basic will be deposit as PF by employer.
3. Employer have to deposit 0.85% of total basic paid as EDLI Contribution.
4. PF Administration Charges will additional as 0.50% of total basic.
5. EDLI Admin Charges will also additional is 0.01% of total basic.
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