ppardeeprajput
Dear All, Can anyone tell me about PF deduction if basic is above 15000 then it is necessary to do pf deduction or not ? is it exempted ?
From India, Pune
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Vmlakshminarayanan
Agm - Hr&admin
Ppardeeprajput
Asst. Manager

HR Mohankumar
22

Deducting 12% on 15000 is enough if the basic is >=15000

If you have employees' whose basic salary is <15000; you should follow the above said.

If all of your employees or most of your employees are >15000 basic salaried then there is a consent for not-opting to PF deduction which you may collect and keep it for records and can be produced at the time of inspection.

Strongly suggest to go for first line.

From India, Chennai
vmlakshminarayanan
919

Hi,

"PF deduction if basic is above 15000 then it is necessary to do pf deduction or not : :- If the employee is already a contributing member to PF then PF should be deducted even though Basic is above 15000/- but PF can be limited @ Rs.15,000/-. However if the Member is already not a contributing member to PF then no need for PF deduction. But collect EPF Form 11 duly signed by the employee.

From India, Madras
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