Sir/Madam,
For new employees with a salary above 15000, should their PF be deducted on the full salary or on 15000? Similarly, for the employer's share, should their PF payment be restricted to 15000 or based on the full salary, as our company allows PF deductions on the full salary.
From India, Hyderabad
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1For new employees with a salary above 15000, should their PF be deducted on the full salary or on 15000? Similarly, for the employer's share, should their PF payment be restricted to 15000 or based on the full salary, as our company allows PF deductions on the full salary.
From India, Hyderabad
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If their salary is Rs. 15,000, then the employee falls under Regular PF, and 12% of Rs. 15,000 will be considered. But if the salary is above Rs. 15,000, then they fall under Excess PF, which is a case where an employee can contribute more than 12% towards their monthly PF contribution. The employer's share will remain at 12% only. According to the law, PF on the full salary is not considered.
You need to check with your management for the same. Refer to the link for more information: https://www.stacowiki.in/en/acts/st-...ident-fund-pf/
From India, Bengaluru
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You need to check with your management for the same. Refer to the link for more information: https://www.stacowiki.in/en/acts/st-...ident-fund-pf/
From India, Bengaluru
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SALARY with out PF Deduction.xls
Employer-PF-res trict to wages of Rs 6500.pdf