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How to calculate PF with example
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Answer Posted / harishdeen
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
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