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Maintaining 2 PF constants

Hi Friends,

Is it possible to maintain 2 constants for PF calculation.

One is for Rs.6,500 which is statutory

and another one is for Rs.1,20,500

If basic pay of an employee exeeds Rs.1,20,500, then PF calculation should be limited to Rs.1,20,000.

Any suggestions.

Thanks in advance.

Regards

Former Member

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