Dear all, Please clarify the following w.r. to EPF.
Employee Salary is 45,000.
Point 1 :
PF calculated salary is 40,000 x 12% = 4800 for employee and 1800 from employer (restricted to 15000). Is this acceptable.
or we have to restrict both the contributions on 15000 only.
From India, Hyderabad
The upper ceiling limit is 15k.
For both employee and employer.
And deduction is on basic,DA,and all such alowances that are mandatoeily,regulary deducted from salary of all the employees if applicable.
From India, Vadodara