the pension is payable to (1) the spouse and (2) two children below 25 years of age. When a child reaches 25 years of age, the third child below 25 yrs of age will be given pension and so on.
Basic Salary: As the name suggests, this forms the very basis of salary. This is the core of salary, and many other components may be calculated based on this amount. It usually depends on one’s grade within the company’s salary structure.It is afixedpart of one’s compensation structu...
A payslip is a document showing an employee's earnings and deductions, while payroll refers to the total of all employee wages a company pays out.
Still, the percentage contributions for both of them are divided into two funds: Employee Pension Scheme and Employee Provident Funds. EPFEPSTotal Contributions Employer 3.67% 8.33% 12% Employee 12% 0 12% Note: If (Basic+DA) exceeds 21000, the EPF is calculated on the same; otherwise, it ...