Dear All
I have need one suggestion from you.
In our company one employee requested us to deduct PF as per PF deduction limit i.e. 15000/- instead of his Basic salary i.e. Rs. 45000/- (currently we deducted his PF on Rs. 45000/- i.e. Rs.45000*12% = Rs. 5400/-)
Please reply. Can PF allow us to do deduction of PF as per PF deduction limit i.e. Rs. 15000/- for only one employee.
Regards
Atul
From India, Mumbai
I have need one suggestion from you.
In our company one employee requested us to deduct PF as per PF deduction limit i.e. 15000/- instead of his Basic salary i.e. Rs. 45000/- (currently we deducted his PF on Rs. 45000/- i.e. Rs.45000*12% = Rs. 5400/-)
Please reply. Can PF allow us to do deduction of PF as per PF deduction limit i.e. Rs. 15000/- for only one employee.
Regards
Atul
From India, Mumbai
EPF deduction is mandatory for deduction for Basic+DA up to 15000/- thereafter if employer and employee both are agreed to pay their part of contribution, they cAn make more contribution, however all such excess contribution would be shifted to a/c 1 ..as EPS and EDLI has ceiling of 15000/-
it is purely based on employee and employer policy management, they can opt to deduct on more or not, is dependent on their policy mutually agreed upon
630it is purely based on employee and employer policy management, they can opt to deduct on more or not, is dependent on their policy mutually agreed upon
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls
PF Contribution on Leave Encashment - Clarification by EPFO.pdf