An employee's Provident Fund (PF) statement is important for providing a summary of their PF contributions and withdrawals during a specific period. It helps you to verify the PF contributions deducted from the employee's salary, and for identifying any discrepancies or errors.
The Provident Fund Basic or Provident Fund Gross (PF) is the amount on which the PF contribution or deduction is calculated. In most companies, it includes Basic + Basic Arrears + DA + DA Arrears.
However, some companies can opt for a change. In such cases, we can the PF Basic formula to cater to the client's requirements.
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