Employer’s contribution towards EPS would be Rs. 1250 (8.33% of 15,000) Employer’s contribution towards EPF would be Rs. 550 *3.67% of 15,000) Total monthly contribution towards EPF = Rs. 2,350 (Rs. 1800 + Rs. 550) Considering the current EPF contribution rate to be 8.5%, the m...
Calculate EPF Amount with Example The formula to used behind the PF calculator is as follows: EPF amount = (Basic pay + Dearness allowance) x (Employee contribution rate + Employer contribution rate) Example: Suppose an employee's basic pay is ₹20,000, The dearness allowance is ₹5,...
However, an employee can maintain their contribution rate at 11%. If the contribution is maintained at 11%, the EPF Contribution Table applies. Contribution RateEPF Contribution Rate Note: Employers are not allowed to calculate the employer’s and employee’s share based on exact percentage EXCEPT...
The interest rate on PF for FY 2022-23 is set at 8.1%. To calculate the interest rate applicable for each month, the calculation is: 8.1%/12 = 0.675% If an employee joined a firm ABC in April 2022, the total PF contribution for April will be Rs. 2,350. There will be no interest...
Employer’s contribution towards EPF = Employee’s contribution – Employer’s contribution towards EPS = 1800-1250=₹ 550 Total EPF contribution every month = ₹ 1,800 + ₹ 550 = ₹ 2,350 The interest rate for 2018-2019 is 8.65%. When calculating interest,the interest applicable per...
Retirement fund body EPFO has made it mandatory for private provident fund trusts to file their returns online every month from April 2014 to improve the monitoring of these employers. In the e-return, the trusts provide information about employment in their organisation, contribution towards social...
There is no cap on the salary on which contributions are payable by the employer as well as employee. There is no cap on the salary up to which the employer’s share of contribution has to be diverted to EPS, 1995 and the same is payable on total salary of the employee. ...