Provident Fund
Provident Fund
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Provident Fund Calculation and Balances

There are a number of aspects considered for calculating the amount of provident fund to be deposited in the PF account. Deducted amount is deposited in the pf account. However, maximum limit on amount of which provident fund is deposited is set at 12%. This means if you have the limit of Rs. 6500. That means maximum 12% limit on the PF is levied. There are many ways thorough, which you can get your PF amount calculated. There are many people who find it tough to calculate the amount of PF to be deposited. 12% maximum limit is for the employer, which means amount of Rs. 780 on Rs. 6500. This mandates provident fund calculation online procedure very simple however if employee wishes to deposit more than 12% he can do so.

Certain additional charges are also to be paid by the employer, which include that of administrative charges. All of the amounts are to be paid through the challans. Provident fund balance is maintained in a number of accounts like PF A/c no.1, 2, 10, 21 and 22 no. accounts. these accounts are termed as contribution account, admin account, eps account, Edlis account, Edlis admin account.

Among other charges to be paid include that of PF admin charges. Employer pays 1.1% of the EDLIS along with certain other charges. This goes to the total charges of 1.61% of the basic. This makes total contribution of the employer 13.61%. As compared to that employer has to pay only 12% amount of the basic.

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