N. Rajendran Charges of PF + 0.5 % EDLI + 0.01 % Admin Charges of EDLI ] EDLI - Employee deposit link insurance The maximum ceiling limit of PF - Rs.15000/-from 01/09/2014 If the basic + DA exceeds 15000/- than the contributions is optional. But it does not include any incentive or appriciations amount linked with annual performance. On the other hand, the Deduction bit comprises of Professional Tax, TDS or tax deducted at source and PF/EPF contributions.
In this article i have given information on how to calculate CTC . CTC Details, Basic Salary - 9500, HRA - 3135 (Basic salary * 33%/100) PF - 1140 (12% for employer as well as Employee) ESI - 457 (ESI is applicable only for who are getting below 20,000 gross salary. So the formula for calculation of Basic Pay would be Basic Pay = Base Pay/ 1.681 Deductions. CTC 100 Base Pay 40 Choice Pay 50 PLI 10. and that is deducted 4.81% for Employee and 5.3% for employer.) For sick units or establishments with less than 20 employees, the rate is 10% as per Employees’ Provident Fund … Pf is calculated on 12% of basic salary of employee.Both employee and employer should pay 12% each.In which the employee's 8.33% will go to pension scheme and … In case you are a woman, you only need to contribute 8% of your basic salary for the first 3 years. It is basically the annual salary package which a company offers. The amount received post subtracting gratuity and the employee provident fund (EPF) from Cost to Company (CTC) is called as Gross Salary. 8400 your EPF amount is 12% of 8400 Rs.
Special allowances: The difference between basic wage and the total of all the allowances are considered special allowances. How To Calculate PF Of Basic Salary More Than 15000. PF - Provident Fund Calculator.
During this period, your employer’s EPF contribution will remain 12%. Read, more on it here. ... commission and so on are excluded from the ambit of PF liability. This tool will help you estimate how much balance you will have in your employers provident fund account when you retire. But before calculating PF on basic salary and DA, we should remember that pension wage must be always 15000 Rs or less than 15000 Rs only. Basic salary for EPF PM 60% of 14000 is Rs. In our previous post we talked about the why PF should be calculated on gross salary and not on Basic head of pay.. The CTC components differs from company to company. Because in your CTC you can know how much PF deduction you have. Your Cash in Hand per month is calculated after considering tax deducted at source from your Salary Income. Pf is calculated on 12% of basic salary of employee.Both employee and employer should pay 12% each.In which the employee's 8.33% will …
The officers have to ensure that CTC is not drawn in such a way that the basic wages on which PF has to be contributed comes below Rs6,500. PF contribution, liability towards gratuity, ESI (if applicable) - employer's share , if tax part is born by employer it will be a part of CTC. Read here about the Basic PF rules. If you are looking to know about how to calculate basic salary from CTC then you can follow the above steps. How to use it To arrive at the retirement corpus, you need to enter few details such as:" Your present age and the age when you wish to retire. Also read: How to calculate PF and ESI with example. It is a part of CTC as the total expenditure incurred on the employee each month," said a HR manager in a private civil construction firm. Employees Provident Fund (EPF) is a government run initiative that is under the Employee’s Provident Fund and Miscellaneous Provisions Act 1952. Hi, can you help me with the clarification of PF calculation, as you said PF is calculated as per revised PF rules, if the employee’s basic salary is less than 15000/- then pf deduction will be calculated @12% on monthly gross salary excluding HRA/Food Allowance. Hope you have got the basic idea on how to calculate CTC . Generally we face this term while giving interview, where we are asked about our expected CTC. 60% Basic and 40% HRA. CTC is never equal to the amount of take-home salary of the employee. Calculate PF on gross pay and NOT on Basic head of pay – Part II Posted by gautham on January 15, 2013. Hence CTC is a sum of Gross Salary and Benefits. Download The … CTC Details . Indirect Benefits refer to the benefits that employees enjoy without paying for them. Now what is left? Now, the Base Pay includes Basic Pay, PF Contribution of Employer and Gratuity PF Contribution 12% of Basic Pay and Gratuity is 4.81% of Basic Pay.
Some company may have their own company policies. what is pf & esic calculation on ctc how much perstange apply from both the side ,employee as .. Answer / gaura mahapatra. Based on that PF deduction you can calculate your basic salary from CTC. Apart from 24% deduction towards PF, add up Income Tax, and other deductions. So till then, Gratuity should never be part of CTC till completeion of these 5 years.