Hi!
With the new ruling of raise of Ceiling of EPF from 6,500 to Rs. 15,000 i just wanted to know that then teh PF has to be claculated on 15000 or on minimum wages prevailing. When the ceiling was 6500 we had paid Pf to teh extend of 780 which is 12% of 6500. Kindy clarify.
Regards,
Shweta.
With the new ruling of raise of Ceiling of EPF from 6,500 to Rs. 15,000 i just wanted to know that then teh PF has to be claculated on 15000 or on minimum wages prevailing. When the ceiling was 6500 we had paid Pf to teh extend of 780 which is 12% of 6500. Kindy clarify.
Regards,
Shweta.
Dear Shweta,
If the salary is below 15000, pay PF on actual salary. If the salary is 15000 or above, pay PF on 15000. This is as per your present practice. If employee and employer wish, the payment can be on actual salary regardless of ceiling salary.
Abbas.P.S
From India, Bangalore
517If the salary is below 15000, pay PF on actual salary. If the salary is 15000 or above, pay PF on 15000. This is as per your present practice. If employee and employer wish, the payment can be on actual salary regardless of ceiling salary.
Abbas.P.S
From India, Bangalore
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf