Explanation:

Basic wages, dearness allowance and retaining allowance if any.

As an employee working in a corporate set-up, there are several things one would like to know about the Employees Provident Fund (EPF). EPF is the main scheme under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. The scheme is managed under the aegis of Employees' Provident Fund Organisation (EPFO).The Supreme Court ruling is unlikely to impact those with basic salary and special allowances above Rs 15,000 a month. The Supreme Court has held that special allowances paid by an employer to its employees have to be included in "basic wage" for deduction towards provident fund.