I have a issue with PF at my client place.
As you know Pension contribution conditon is that employee whose basic is less then 6500 then the pension contribution ( /3F4) will be 8.33% of actual basic and if the basic salary of employee is >= 6500 then the Pension contribution (/3F4) should be 8.33% of 6500.
Here at my client place it is calculating in a different way .For employee whose basic salary >=6500 pension fund conribution is calculating on the actual amounts only.
Eg: Emplyees basic salary is 15000 and when i run payroll for this employee the results are like this:
Kindly let me know what is the problem and what is the solution.
In IT0587 i am maintinaing only PF Trust id not Pension Trust id.Is this the problem?