One of our associates is requesting to reduce his employer's PF contribution for more take-home. We cannot revise the CTC structure for this one associate alone due to our internal policy. Is there a way to address this request without changing the CTC structure?
We would also like to know the statutory regulation part of this request? As an employer, should we honor this kind of request? OR Is this at the company's discretion?
Looking forward to your advice and suggestions.
From India, Bengaluru
We would also like to know the statutory regulation part of this request? As an employer, should we honor this kind of request? OR Is this at the company's discretion?
Looking forward to your advice and suggestions.
From India, Bengaluru
@Vijaykumar
EPF contribution can be fixed at 15000/- and if it is currently above 15000, then it may be fixed on a written request from employee, however to avoid any onward complication it would be good to take any decision of contribution of march payable in april ( EPF financial year is march to feb contributions)
PF contributions which are paid on the amount below 15000 can not be reduced except the absence
Balance is policy matters discussion between employee, HR and employer
630EPF contribution can be fixed at 15000/- and if it is currently above 15000, then it may be fixed on a written request from employee, however to avoid any onward complication it would be good to take any decision of contribution of march payable in april ( EPF financial year is march to feb contributions)
PF contributions which are paid on the amount below 15000 can not be reduced except the absence
Balance is policy matters discussion between employee, HR and employer
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