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 How do we calculate PF contribution and COLA
06-08-2010, 08:10 PM
Post: #1
 MuddassirACCA Junior Member Posts: 6 Joined: May 2010 Reputation: 0
How do we calculate PF contribution and COLA
What is the formula for calculation of Provident Fund Contribution and what is its rate in Pakistan?
Also how do we calculate COLA Allowance in Pakistan?
Plz give reference of relevent section / rule as well.
06-08-2010, 08:14 PM
Post: #2
 ali4u3 Senior Member Posts: 326 Joined: Nov 2003 Reputation: 0

PF contribution = Basic Salary / 12 = PF per month contribution by the employee.

OR 8.33% of Basic Salary per month.

Regards

Ali
06-09-2010, 03:06 PM
Post: #3
 Sitara Senior Member Posts: 491 Joined: Aug 2009 Reputation: 0

Asalam Alaikum,

Welcome back ali4u3. What is the uptade of your studies now. Can you tell me from where you studied PIPFA?. And as I remember you posted somewhere that you are in module C.
06-09-2010, 08:24 PM
Post: #4
 MuddassirACCA Junior Member Posts: 6 Joined: May 2010 Reputation: 0

Mr. Ali thanks for ur answer. Are u sure that PF is 8.33% of basic salary. If so can give any reference becasue i have heard that it is 7% of basic + COLA.
Also can u tell me how is COLA calculated in Pakistan and what is its amount?
06-11-2010, 04:27 PM
Post: #5
 ali4u3 Senior Member Posts: 326 Joined: Nov 2003 Reputation: 0

Yes...i m damm sure..PF is 8.33% of Basic salary p as meri salary say bhi aitna hi deduct hota hai p

@ Anam ...kindly check yr email..p
06-11-2010, 10:22 PM
Post: #6
 noman Senior Member Posts: 425 Joined: Aug 2004 Reputation: 0

I think 8.33% is one that is very common. however, tax authorities allow upto 10% for exemption..and therefore it could be higher than 8.33%..u have to see the terms & conditions to verify..
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