What is PF how to calculate
Provident Fund percentage is 12%
Employee share is 12%
Employer Share is 12% and
Administration Charges 1.61%
Total 25.61%(Employer should bear 13.61%)
It calculates per month (basic + DA) salary or and (Basic Salary) which ever is applicable in the stated salary
Example:
An employee get a salary Rs.5000/- that is Basic Rs.3000 + Allowance Rs.2000/-)
EPF = 3000 * 12% = Rs.360
He gets a net salary Rs.4640 (Rs.5000-Rs.360)
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