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If I am paying PF contribution irrespective of employee's qualifying salary, say his basic is Rs 40.000 ,he pays 12% i.e.4800 and employer is also paying 4800 to his EPF a/c, Can I stop this practice and bring down Employer's contribution to qualifying statutory amount any time though the practice is for several years.
From India, Nagpur
Dear Suresh, you can restrict Employer contribution to Present EPF Wage Ceiling i.e Rs15,000/-PM.As and when EPF Wage Ceiling goes up, You have to comply with the same.You can restrict with prospective Date
From India, New Delhi
Sir I wish to know that if I was paying more than statutory requirement. Can I now reduce it to 12% of 15,000 ,the limit as of now Regards Suresh
From India, Nagpur
Dear Suresh, with effect from Jan-2018 you can restrict your EPF Contribution to Present EPF Wage Ceiling i.e Rs15,000/-PM (RS1,800/- Contribution) This will be in force till EPF Wage Ceiling is increased
From India, New Delhi
Anonymous
My employer employees contribution is 10% each not 12%..but are consequences for serving and retirees ?
From India, Chandigarh
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