PF can be either restricted or non-restricted.
PF Calculation on Non- Restricted wages will be:
12 % of Basic + DA
PF calculation on Restricted Wages will be:
If Basic + DA > 15000, PF = 12 % of 15000
b. If Basic + DA < 15000, PF = 12 % of (PF Wages or INR 15000 whichever is lower).
You have the option to import the PF Status in bulk for your employees.
To import PF Status, follow these steps:
On the Home Page click “Transactions”.
Click on “Employee PF Status” under “Core HR”.
Select the “Branch” from the drop-down menu.
Click “Download template here” to download the template.
Update the details in the “Employee PF Restricted” sheet.
If PF is Restricted mention as “Y” and if non-Restricted mention as “N”.
“Save” the file.
Click “Choose file” and select the file.
The PF Status can also be updated when you import your new hires in bulk.
Click here for details on how to upload new hires in bulk.
In the last column (AZ column) of the “Employee” tab, please update “Y” for all those Employees for whom PF should be restricted.