Your take-home salary is set to reduce significantly, though you might end up saving more. Putting to rest the confusion regarding calculation of provident fund, the Employees Provident Fund Organisation (EPFO) has said that all allowances which are ordinarily, necessarily and uniformly paid to the employees are to be treated as part of the basic wages. Take that to read transport, education, medical and any such special allowance which is payable in cash. All this would now be clubbed to the basic salary while calculating the PF.......
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