Hi, I am dinesh. I want to know that if the employee’s having basic salary is more than Rs. 6,500/-, p.f. can be deducted or not. what is the statutory binding?
From India, Delhi
From India, Delhi
yeah mr dinesh, pf can be deducted @besic+vda+food allowance*12%
but pention fund under 8.33% of employer share deducted on only 6500/- maximum and rest amount included in 3.67%
for example salary is 10000/- then empoyee share deducted @12%=1200/-
epmployer share in account no. 10 will be deducted @6500*8.33=541 and balance amount 1200-541=659 will be deposite in account no. 1
have a good day
From India, Delhi
5but pention fund under 8.33% of employer share deducted on only 6500/- maximum and rest amount included in 3.67%
for example salary is 10000/- then empoyee share deducted @12%=1200/-
epmployer share in account no. 10 will be deducted @6500*8.33=541 and balance amount 1200-541=659 will be deposite in account no. 1
have a good day
From India, Delhi
Dear Dinesh,
If the employee is getting basic salary more than Rs. 6500/-, deduction under PF is voluntary. Means, if the employee does not want to contribute, he is free to do so.
The same practice is followed in big corporates.
From India, Delhi
If the employee is getting basic salary more than Rs. 6500/-, deduction under PF is voluntary. Means, if the employee does not want to contribute, he is free to do so.
The same practice is followed in big corporates.
From India, Delhi
If he has already been a member of EPF, he is expected to continue EPF even if his salary is more than Rs 6500. Certainly, for a new employees whose salary (Basic +DA) at the time of joining itself is more than Rs 6500, it is optional.
Regards,
Madhu.T.K
From India, Kannur
Regards,
Madhu.T.K
From India, Kannur
dear friends and my dear moderators, do you know that epf can be deposited upto 20% from employee side??
From India, Delhi
From India, Delhi
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PF is to be deducted on canteen allowance - Delhi HC 22.7.2013.pdf