Hi, I am working for private concern in Hyderabad, Currently my company if deducting PF amount based on Basic salary *12%. Now they Changed the PF deduction rule to deduct based on the following calculation. If basic/gross - HRA is more than 15000, then contribution from both employee and employer would be 15000 * 12%.
For ex: Basic = 33000 HRA = 15800
Basic - HRA = 17200
PF Contribution(Emp and Employer) = 17200*12% = 2064 + 2064 = 4128
Just curious to know, is this rule is according to EPF act? Will there be any impact on employees ?
Thanks
From Singapore, undefined
For ex: Basic = 33000 HRA = 15800
Basic - HRA = 17200
PF Contribution(Emp and Employer) = 17200*12% = 2064 + 2064 = 4128
Just curious to know, is this rule is according to EPF act? Will there be any impact on employees ?
Thanks
From Singapore, undefined
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