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Every Month a portion of your Salary is deducted towards EPF - This will be referred to as "Employee Contribution". Your employer too contributes a certain amount every month towards EPF - This will be referred to as "Employer Contribution".

Employee Contribution: 12% of your Basic Salary + DA (Comes out of your Salary)

Employer Contribution: Another 12% of your Basic Salary + DA (Comes out of your Employers Pocket)

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11y ago
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8y ago

The market dynamics are been demanding much more from the fund houses and the investment opportunities. The ICICI Prudential AMC helps to bring many such option on to the table with a fixed and variable return policies. The balance funds are considered to be best and safest among the lot as they give you guaranteed returns with an opportunity to enjoy the market benefits.

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11y ago

For ex: If your Basic Salary is Rs. 10,000/-

12% of your Basic Salary works out to Rs. 1,200/-

3.67% of your Basic Salary works out to Rs. 367/-

8.33% of your Basic Salary comes to Rs. 833/- which is higher than the limit of Rs. 541/-

So, your Employer will contribute Rs. 541/- towards EPS and contribute Rs. 659/- towards EPF (Rs. 367/- + Rs. 292/-)

In Essence, the employer will contribute 12% of your Basic just as mentioned above with the simple difference being the fact that the EPS component is constrained by an upper limit and the remaining usually goes towards your EPF.

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14y ago

Contact your employer. They will have the PF account numbers

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11y ago

i want check my pf account balance and i have to put my pf a\c no

Use the PF Account number and register in the EPF India website. you can check the balance online after that

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15y ago

12% of the basic salary of the employeer+12% of the basic salary contributed by the employee.

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11y ago

If basic salary is Rs. 10000 the PF is 1200. It is 12% of the basic salary

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Related questions

When was Central Provident Fund created?

Central Provident Fund was created in 1955.


What is the interest rate on unrecognized provident fund?

There is no such thing as an Unrecognized provident fund. The rate of interest on provident fund in India is 8.6% per year


Which one is better between voluntary provident fund and public provident fund?

VPF


How many FDI in provident fund?

None. The Indian government does not allow FID in provident fund


Is there necessary to sign of previous employer to get provident fund?

Yes. The Employers signature/attestation is required to get the provident fund


What is the expansion of pF?

Provident Fund


Can you deduct provident fund on conveyance?

No


When provident fund is implemented?

1952


Is Government Provident Fund money falls into Riba category?

Yes, the interest paid by provident fund will fall into riba category


How many staff should be in a company to start provident fund?

how many staff should e in a company to start provident fund


What journal entry for provident fund?

To record employee contributions to the provident fund: Debit Provident Fund Expense and Credit Employee Contribution Payable. To record employer contributions: Debit Provident Fund Expense and Credit Employer Contribution Payable.


Does the company or union decide witch Provident Fund to have in a company?

No. The government has the Employee Provident Fund which is mandatory for all employees of companies in India