You would need to create payroll elements using different primary classification like Standard Earnings for Basic and Social Insurance for PF etc. Then you can write fast formula for payroll calculation.
One query, why do you need PF, super annuation in compensation module as they are kind of social insurance contribution? They should be in payroll only.
As you might be aware that there is no Payroll extension for India. Now our customer wanted this to be tracked in Fusion Application, as a part of CTC. Now how will go about it in the setup. Kindly request you to provide me the steps of your solution.