Let me correct , now we have to take the celing as 15K as base, if more then that do we need to fix the standard deduction of PF as 1800(12% on 15K) and less then that depends on basic *12%.
4th September 2014 From India, Chennai
Please clarify that under the EPF Act, the employer can not bring down the contributions from the Basic Salary (as defined in the act) of Rs. One lac p.m. to Rs.15000 as per provision of the Act.
The organization at present deducts and contributes on the Basic Salary irrespective of the amount of Basic Salary ( Rs. 50000 p.m. to 1.50 Lac p.m.). It now wishes to deduct and contribute only as per the act i.e upto Rs.15000 only for all the employees.
Is it possible under the Act to do so?
Thanks & Regards
19th March 2019 From India, Delhi