07-05-2010, 11:34 PM
Dear Muddassir,
PF is calculated on basic, which we divide into 12 months and deduct from employee salary, same amount is contributed by Company, As far as COLA is concerned, for that i think every company has different procedures, as our company calculates 5% on Gross Salary, so this may vary company to company. If there is any standard, plz let me know
PF is calculated on basic, which we divide into 12 months and deduct from employee salary, same amount is contributed by Company, As far as COLA is concerned, for that i think every company has different procedures, as our company calculates 5% on Gross Salary, so this may vary company to company. If there is any standard, plz let me know
