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12% of the basic salary
On the basis of the Basic Salary component that is part of the salary. The amount contributed is 12% of the basic salary from employee as well as an equal contribution by the employer
It is 12% of your Basic Salary
Rs. 1140 (12% of your Rs. 9500 basic) from your salary + an equal contribution by your employer which may take Rs. 6500 as upper limit for basic
Check your Job offer letter or pay slip. There will be a component called basic salary. It is not calculated but it is fixed by your employer based on your job, designation, experience etc
If your Basic Salary is Rs. 10,000/- 12% of your Basic Salary works out to Rs. 1,200/- 3.67% of your Basic Salary works out to Rs. 367/- 8.33% of your Basic Salary comes to Rs. 833/- which is higher than the limit of Rs. 541/- So, your Employer will contribute Rs. 541/- towards EPS and contribute Rs. 659/- towards EPF (Rs. 367/- + Rs. 292/-) In Essence, the employer will contribute 12% of your Basic just as mentioned above with the simple difference being the fact that the EPS component is constrained by an upper limit and the remaining usually goes towards your EPF.
If your Basic Salary is Rs. 10,000/- 12% of your Basic Salary works out to Rs. 1,200/- 3.67% of your Basic Salary works out to Rs. 367/- 8.33% of your Basic Salary comes to Rs. 833/- which is higher than the limit of Rs. 541/- So, your Employer will contribute Rs. 541/- towards EPS and contribute Rs. 659/- towards EPF (Rs. 367/- + Rs. 292/-)
Usually provident fund is 12% of your basic salary. For daily wage employees it depends on the various components of your salary that your employer is paying out on a daily basis. Assuming you earn a salary of Rs. 200/- every day and your employer has put out Rs. 100/- as basic salary every day then your total basic salary per month would be Rs. 3000/- (approx) which in turn would mean that Rs. 360/- would be your monthly PF contribution. If your employer is registered with the EPF organization of India, then he can deduct this money from your salary and remit it with the EPF department every month against your name.
No. It is usually 12% of your basic salary with no upper limit as long as you and your employer agree.
Every Month a portion of your Salary is deducted towards EPF - This will be referred to as "Employee Contribution". Your employer too contributes a certain amount every month towards EPF - This will be referred to as "Employer Contribution".Employee Contribution: 12% of your Basic Salary + DA (Comes out of your Salary)Employer Contribution: Another 12% of your Basic Salary + DA (Comes out of your Employers Pocket)
You can calculate pf very simply....you can choose EPF Calculator for that.IN that u just add your detail and monthly wage you will get all results which you needed....Epf calculator is free you can download it from their site.PF is 12% of your basic salary. If your basic salary is Rs. 1000/- PF will be Rs. 120 employee contribution + Rs. 120 employer contribution
Employment contracts are a statement to declare what is expected of you in your job role, as well as what is expected of your employer. An employer is required to supply an employee with an employment contract within two months of the employment starting. The kinds of things stated in employment contracts can vary, however some basic elements include salary, working hours and overtime.