Every country out there has different rules when it comes to the amount of taxes people pay for multiple different things. For example, in countries like Greece that taxation goes all the way up to 22% which means that, a lot of people are actually paying up to 22% of their salary every month in taxes.
Every Country Has Different Taxes
In northern European countries taxes are actually quite high but at the same time the wages are quite higher as well. Now, in India there is something called the PF. The PF is basically the Provident fund which is a fund paid to contribute to the employees’ Provident fund. Basically, both the employer as well as the employee are obligated to pay 12% of the basic wage in an effort to contribute to the EPF.
Another reason why this is mandatory is because of the fact that, it has been decided by the government and it is a new regulation. If you are an employee or employer and you want to know exactly how much money you’re going to be paying and you’re going to need an EPF calculator that will be able to provide you with accurate information regarding your payments.
Calculate Your EPF
The EPF calculator will answer your questions regarding the how to calculate PF amount and what is the EPF interest rate as well as the PF contribution that you’re going to have to pay. Yes, we understand that a lot of people out there are actually against this particular contribution because of the fact that, they do have to pay all the way up to 12% of their salary to this.
However, it is important for everyone to do some research and understand exactly why this is a mandatory law. The money that are being gathered there are actually being put to good use which eventually means that, both the employees as well as employers are actually going to be able to have a lot of perks in the future because of this particular fund.
This of course just some basic information regarding the PF. You need to make sure that you will do more research and understand exactly what it is and how it can be beneficial for you in the future, if it actually can be beneficial in the future. However, it is a mandatory fund and it needs to be paid.