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Query: PF

Hi,

PF is 6% of Basic + DP(wage type) (till March 2011), from April 2011 it is 6% of Basic +GP(wage type) as GP as has replaced DP

Here emp can decide how much to deduct from PF i.e. they can give an amt which is less or more than 6% of Basic + DP / GP. Now emp who have decided to deduct more than 6% are not facing any issues, where as the emp who have given less than 6% PF deduction are facing issues.

Till March 2011, system is correctly calculating the PF dedcution, but from April 2011 to June 2011 it is only calculating the 6% on Basic and not adding GP as 6th pay has come to effect from April 2011 and now there is no DP for emp, its GP. From July 2011, the calculation is correct.

This incorrect calculation is affecting Form 16 as well.

Regard,

Saleem Basha.

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  • Posted on Jan 17, 2012 at 07:18 AM

    Hello Saleem,

    Kindly raise this query in General ERP HCM forum, this is specific for Payroll North America.

    With Regards,

    S.Karthik

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