I want to know what is the PF deduction Rate for an employee, is it compulsorily 12% of Basic OR it can be limited to Rs 6500 for calculation.
My employer deducts PF of 12% towards my basic of Rs 20000, but he contributes only Rs 780. When asked, he told deduction of 12% of basic is mandatory. Is it so OR can I ask him to deduct only Rs 780 as my contribution ?
Thanks in advance.