Up till now your PE was paying you PF employers' share 12% at actual Basic and now he is paying you 12% on restricted limit of basic as prescribed by law i.e. 15000.
Please refer the SC Judgement in Marathwada Gramin Bank Karmachari Sanghatana Vs Management of Maratwada Gramin Bank (SC 2011 LLR 1130). According to this Judgement you are entitled to discontinue from the remittance of EPF contribution in excess of the rate prescribed by law. This means you can reduce the contribution of 12% on Rs. 15000.
Hope you understand what I said. Further I would like to add for knowledge sharing for you and other readers as under:
You are a contractor. It is your primary responsibility to comply the provisions of applicable to you whether your PE pays to sufficient to comply the law or not / reimburse the cost of the compliance you incurred. e.g. (i) You can not say that my PE not paying me enough so that I can pay to my employees as per Minimum Wage Act. (ii) You can not say that my PE not paying me enough so that I can comply PF, ESI etc.
From India, Mumbai