Question

how much amount shall be included in salary regarding provident fund ? Basic salary of an employee is rs28000 per annum,dearness allowance is rs600 per annum which is also included in calculation of retirement benefit,2% commission on turnover (turnover 3 lakh) , bonus 5000 . Employers contribution to recognised provident fund is 7000 and employee also contributes equal amount. 5500 interest was credited to the fund at tha rate of 11%.
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Answer 1

Answer:

meaning of salary for provident fund

basic salary + dearness allowance + allowances

here, basic salary 28000+ dearness allowance

600 = 28600

12% of 28600 = 3432included in salary