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How to calculate PF with example
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Answer / nithya lingala
Gross salary is not depending on the firm.It varies from one company to another .If basic salary is 6500 and pf is 12% of basic i.E 6500*12%=780.
| Is This Answer Correct ? | 10 Yes | 0 No |
Example:
What is the PF when an employee is earning basic salary of Rs. 10,000, Rs. 1,500 (conveyance allowance) and Rs. 3,000 (medical allowance).
Salary = Basic Salary + Dearness Allowance (DA)
Salary = 10,000 + 1500 + 3000
Salary = 14,500 (> Rs. 6,500)
So,
PF = 12% * 14,500
PF = Rs. 1,740
In this case employee is only liable to pay 12% * Rs. 6,500 = Rs. 780. The remaining amount which comes out to be Rs. 960 is employee's choice to pay or not to pay.
OR
Use the below calculator to find out your PF (Provident Fund).
PF Calculator - https://www.easycalculation.com/mortgage/epf-calculator.php
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / sai srikanth kanchinadham
PF is calculated on your Basic + DA @12% and for Non-Metro cities basic is 40% of your gross salary and for Metro cities it is @50% of your Gross Salary. Because Hyderabad is still not a Metro city.
Basic - 40% of Gross Salary
HRA - 25% Of Gross Salary
DA - 20% of Gross Salary.
PF - 12% of Basic
ESI - 1.75%-Employee Contribution
4.75%-Employer Contribution
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / purushothaman
I have one doubt X salary 15000, pf 12% and company deduct 3.67% and 8.33% pension on family ? what is pf amount and pension amount
?
This answer 15000*12/100 = 1800 + company 3.67% +550 = 1800+550 = 2350 then we will paid on sbi bank. this important where i calculate 8.33% and where i claim tell me the answer
| Is This Answer Correct ? | 4 Yes | 3 No |
Answer / suresh
PF is calculated @ 12% on the Basic salary of an employee
e.g. if your basic is 5000/- then PF amount will be 12% of
rs. 5000/- i.e.600/-
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / praveen kumar
if basic is 20000/- than what will be the employer contribution as a/c - 1, a/c-2,a/c-1o,a/c-21, a/c-22. with current ceiling limit and on actual base.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / shiddhu
i am accountant in private school . i have work days in 19 .
my salary in 8000 so
8000/30= 266.667 per day
267*19= 5067
then my p.f. deduct in 600 ?
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / raj kumar
If my basis salary is 17000 than what will be my PF amount deduction from my salary.
| Is This Answer Correct ? | 0 Yes | 0 No |
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