This requirement give thru HR Department
Created attachment 717 [details] PF salary Trail mail explains that irrespective of number of payable days, the deduction on account of PF from the employee¿ salary remains universal i.e. Rs.1800/- , whereas it should be according to or proportionate to the number of payable days. For example - Full month salary / wages = Rs.15000.00 PF Deduction @12% = Rs.1800.00 If number of payable days are less or 29 in Jan month the salary / wages would be - Rs. 14032.00 PF Deduction @ 12% shall be - Rs. 1684.00 Kindly correct in IMIS on priority, as this mistake is continuing for last few months. Thanks From: Joginder Singh [mailto:joginder.singh@dsgroup.com] Sent: 29 January 2020 16:11 To: Mahender; rajkumar singh Cc: Rajesh sarao; jn.mishra@baba.in Subject: EPF Wrong Calculation Dear Mr. Mahender/Mr. Raj Kumar As discussed, we are deducting EPF from employee¿s on different tariff/ limit under ¿The Employee¿s Provident and Miscellaneous Provision Act ¿1952 and rule made their under. But in some cases, where employees are enjoying their restricted limit of EPF for Rs.15000/-, the EPF is calculating wrong on fully amount for Rs.15000/-@ rate @ 12% without taking effect of days for worked in the month. In result of that, our pay roll register is not maintaining properly and may lead to complications under the statutory compliances associated with PF contribution. The EPF should be calculated as per example set as under :- Restricted limit / number of days in the month x number of days worked If a employee worked for 23 days in the m/o Nov¿2019 and covered under restricted limit for Rs.15000/-, EPF should be deducted as under. PF Limit = 15000 /30x23 =11500/- PF = 1380.00 correct Existing formula = 15000/30*30 =15000/- PF = 1800.00 wrong The list of employee¿s is attached for your reference. Kindly do the necessary correction before posting salary for the M/o Jan¿2020. Dear Mr Raj Kumar : Kindly follow up with I.T. depart to resolve this issue. Thanks