What is EPF challan calculation?

Posted on 24th Aug 2018 | 1523 views

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PF calculator used for the calculation of provident fund deduction from employee salary. Provident fund is an integral part of Employee provident fund scheme administered by Employee provident fund organization. Employee Provident fund subscription is compulsory for every salaried employee. Employer must register employee in EPF scheme at the time of joining in the service in their establishment. An employee whose salary is over 15,000 RS must join EPF. This was the new ceiling limit earlier the limit is 6500 RS. Employee provident fund is calculated on the basic salary plus and DA and any other allowances. As per the provident fund act 1952, section 2b basic wage means salary excluding allowance and deductions and dearness allowances are the amounts paid to the employee in accordance to daily basic needs. According to the PF act, section 6 employer must contribute 10% amount relevant to the salary paid to the employee. Employee must contribute 12% toward EPF from their take-home salary.

PF calculator

EPF challan is the E-receipt for the payment of provident fund in that time.

EPF challan download

Employee can download EPF challan from the website. The employee needs to login to EPFO portal using the ECR credentials. After logging in employee details of provident fund and account number etc. after verification of details employee need to confirm payment by valid transaction id. After successful payment verification, a duplicate EPF challan generated for the required credentials.

PF calculator online is used for calculation of PF, these calculators will estimate the balance of employee in the provident fund account and also these will show entire provident fund available to the employee when they retire

EPF calculation excel sheet is an important document human resource department for calculating the retirement benefit of employees in their establishment. These calculations are based on the PF act 1952. In the excel sheet the PF formulas are pre-defined to help calculate year wise contributions of employee.

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