PF determined using Gross Salary Basic, DA, conveyance, other allowances, etc. would be included in PF Gross (heads of pay which are included for PF calculation). In accordance with the PF Act's regulations, it excludes heads of pay like house rent allowance and bonuses, among others. ...
However, instead of making a manual calculation, you can calculate the EPF amount with the help of an online EPF calculator. How to use ET Money's EPF Calculator? ET Money's EPF Calculator is easy to use. You need to add the inputs and instantly get the results. Step 1: Enter your...
Calculation Formula Employer Contribution:The employer contributes 12% of the employee's basic salary plus the Dearness Allowance (DA). This contribution is divided as follows:1. 8.33% goes to the Employees' Pension Scheme (EPS).2. The remaining 3.67% goes to the EPF account. Employee Contribu...
The Employee Provident Fund Organization (EPFO) has come up with a fresh idea: more money should be deducted from your salary for Provident Fund (PF).They have announced this via a circular dated 30 November, 2012. Read on to get the full details, and how it impacts you. Provident …[R...
The calculation of an EPF loan is a simple process. Let’s consider an example which will help us understand the concept more clearly. Suppose Mr Verma has an EPF balance of Rs. 2 lakh. Due to financial issues faced during the covid-19 pandemic, he wants to take an EPF loan. His...
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Calculation Formula Employer Contribution:The employer contributes 12% of the employee's basic salary plus the Dearness Allowance (DA). This contribution is divided as follows:1. 8.33% goes to the Employees' Pension Scheme (EPS).2. The remaining 3.67% goes to the EPF account. Employee Contribu...