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TMI BlogCalculation of EPFX X X X Extracts X X X X X X X X Extracts X X X X ..... Calculation of EPF X X X X Extracts X X X X X X X X Extracts X X X X ..... ar Calculations for PF. Pls. clarify the proper method of deduction in following case where PF Basic Salary restricted To Rs. 6500.00 - 1) In the month of Sept 2010 Employee Basic Salary - 6000.00 2) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Employee PF Deducted In Sept 2010 - Rs. 720.00 3) In The Month Of Oct 2010 Basic Salary Revised w.e.f. Sept 2010 - Rs. 8000.00 In The above given case what would be the deduction amount towards PF - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Basic Salary in Oct 2010 - Rs. 8000.00 Basic Salary Arrear in Oct 2010 - Rs. 2000.00 1) Minimum of (Basic Salary+Basic Salary Arrears, 6500) *12% = min((8000+2000),6500)*12% = min(10000,6500)*12% = ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6500*12% = Rs. 780.00 2) (min(Basic Salary For Oct 2010 Month,6500)*12%)+(min(Revised Basic Salary for Sept 2010,6500)*12% - PF Already Deducted in Sept 2010) =(min(8000,6500)*12%)+(min(8000,6500)*12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... %-720) = (6500*12%)+((6500*12%)-720) = 780+(780-720) = 780+60 = 840.00 Which one is the correct method? Pl. Suggest. Regards. Pradeep Kaushik Reply By KRISHNAN SURYANARAYANAN: The Reply: The secon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d set of calculations is correct. X X X X Extracts X X X X X X X X Extracts X X X X
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