hr-pfrc
Hi friends,
I am seeing lot of articles these days saying employees take-home salary will be reduced once the new Wage code is implemented, because the PF contributions will increase - considering Basic will be capped at 50% of the Gross. so on & so forth.

I am not able to understand this logic, because there is a ceiling of Rs. 15000 for PF calculation and even if the Basic increases due to new wage code - PF contribution may be capped at the ceiling limit f Rs. 15000 only.
Then how will the PF contribution increase. Can you throw some light on this.

Best Regards
Kartik

From India, Belgaum
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Nanu1953
Ceo-usd Hr Solutions

Use factoHR and automate your HR processes

Mobile-first hire to retire HR and Payroll software that automates all HR operations and works as a catalysts for your organisational growth.



nanu1953
257

Dear Kartik,

Where the organizations are restricting themselves PF contribution up to 15,000/- , there is no problem. But there are organizations who are paying on actual Basic & DA which is more than 15,000/- statutory limit, for those organizations it will be extra cost due to increase of Basic and DA (50% of total wages after implementation of labor codes ).

Thanks & regards,

S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531

USD HR Solutions – To Strive towards excellence with effort and integrity

From India, New Delhi

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views.







About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2022 CiteHRŽ

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server