answersLogoWhite

0

You need to fix a certain amount as basic salary if you want to deduct PF. set a minimum number as basic salary and calculate PF on it. The remaining amount based on piece rate can be added a different component in the persons salary

User Avatar

Wiki User

12y ago

What else can I help you with?

Related Questions

What is the percentages of employee provident fund?

Contribution is 12% of the basic salary and the current interest rate is 8.6%


Can you deduct your mileage that you drove as a 4-H leader?

Yes you can deduct standard mileage rate of 14 cents per mileage


How can I properly pay a W2 employee?

To properly pay a W2 employee, you should determine their hourly rate or salary, track their hours worked, calculate their gross pay, deduct taxes and other withholdings, issue a paycheck or direct deposit, and provide them with a pay stub detailing their earnings and deductions.


What is flat benefit formula?

Flat benefit formula is a method used by the company to calculate the contribution of the employer to the benefit plan of the employee. It is computed through the month of service and multiplies it by the predetermined monthly rate.


How is an employee's hourly overtime rate figured?

Multiplying rate by 1 and a half.


What are the advantages of time rate?

The advantages of time rate is that the employee is paid on the basis of the time that he works. The other advantage is that there is flexibility on both the employer and the employee.


If an employee works on a holiday how much is he typically get paid?

two times the employee's hourly rate


How do you calculate contribution margin rate?

Formula for contribution margin ratio = Sales – Variable cost / Sales


What is the employee turnover rate at Sprint?

100%. The chances the employee getting fired is in their 1st year after employment.


Which retirement saving program has a benefit that will depend on your yearly contribution and the rate of return on invested assets?

Defined Contribution Plan


What percent of taxes are taken out of your pay check in Massachusetts?

Your employer will deduct 5.3% of your wages for Massachusetts income tax. Based on your pay rate and the W-4 you filled out, they will deduct about 28% for the Federal Government, plus SSIC.


What is the difference between time rate and piece rates?

On time rate you are paid for the number of hours worked. On piece rate you are paid for the quantity of goods you produce.