ashunimoria Started The Discussion:
I have read in many posts and magazines too regarding the wage ceiling of PF to be changed from 6500/- (Basic) to 15000/-(Basic) soon?
Kindly let me know whether the ceiling has been changed or it will be effective 1 April 2011.
HR(MacMOHAN PHARMa LTD)
@Abbas: Thanks alot for the clarification and reply..it will help me in fixing up certain things for next appraisals.
We refer the News of ESIC amendment in slab which was raised to a maximum slab of Rs. 15000 instead of earlier Rs. 10000 from 01.05.2010.
In this context I would like to have a suggestion to you to increase the PF slab also as the current PF slab is Rs. 6500 since long. Now due to the global financial situation it is very necessary to amend this slab because at the time of retirement at the age of 58 employee working in a private sector will get very nominal amount. It will be very hard for a person to run his family with PF amount and pension amount what he will get as per the current slab
As you are aware inflation rates are in upward trend and rates of all the necessary items has increased steeply. How can an average middle class Indian can fulfill his basic requirements from above PF amount when he retires.
I think government should change the policy and take some more effective actions keeping in mind long time inflation rate. You can understand the critical position of a person retiring at the age of 58 especially private sector employees.
Government should think about middle class family. “Poor are becoming poor day by day”
Expecting some amendments in PF slab in the new Fiscal Year.
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