PF calculations taken like this below example
Basic [3000]+ DA [2500]+ HRA [2200]+ Other Allow.[2000]=
Gross [9700]
PF 12% = Basic[3000] + DA[2500]= 660
or
12% of the 60% of the Gross Salary
Gross Salary(9700x60%)x 12%)= 698
In both of the two amount, PF is taken in whichever is higher?
That is PF = 698
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Answer Posted / sriram
For PF it is calculated only from Basic + DA
For ESI it is calculated from the Gross salary
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