Dear all, please let me know if the basic salary of an employee is more than 6,500 Rs (let's say 8,000 Rs), will their PF amount be deducted on 8,000 Rs (i.e., 12% of 8,000) or will it be a flat rate based on 6,500 Rs?
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From India, Delhi
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From India, Delhi
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Dear friends, The statutory requirement is on ceiling limit. But if employee and employer wish, the contribution can be on actual salary. Abbas.P.S
From India, Bangalore
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530From India, Bangalore
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No contribution on salary exceeding statutory limit under EPS 8.11.2013.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx