Madhu.T.K
Industrial Relations And Labour Laws
Kamini0894
Hr Executive

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I want to know that if my basic salary is above 15000 then what will be my PF amount? For eg : my basic salary is 20000 then what will be my PF contribution? 1800 or 2400
From India, Mumbai
You can do it either way, take 12% of 20000 or restrict it to 12% of 15000. This depends upon the company's policy. Companies which consider provident fund as a statutory obligation will restrict the contribution to 12% of Rs 15000, whereas others will take it on actual salary. The latter is beneficial to the employees in long run, though their take home salary will be less when they contribute on actual salary.
From India, Kannur
BASIC SALARY IS 16000
DID 10 DAYS IN SEP , SALRY GOT 5333/-
QUESTION IS PF SHARE WILL BE DEDUCT ON 5333/- OF
PF LIMIT 15000, 10 DAYS AMOUNT WILL BE 5000/-
WILL PF DEDUCTED ON WHICH AMOUNT
PLEASE HELP!
Thank you

From India, New Delhi
If you have worked for 10 days only, proportionately deduct the PF qualifying salary to that ten days salary payable. For example, if your PF is paid on Rs 16000, then take this as PF qualifying salary for 30 days and find out what would be for 10 days. Naturally, it will be Rs 5333 and PF should be deducted at 12% of this 5333.
If your company cap your PF contribution on Rs 15000, then the PF qualifying salary for 10 days will be Rs 5000 and then contribution will be on this 5000.

From India, Kannur
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