Dear All, We are a new setup company in April 2023. Is it mandatory for employer to contribute PF on 12% of actual wages, instead of capping at INR15,000?
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Hi Statutory requirement is 12% on Rs. 15000/- only. Employer 12% ; Employee 12% However Employer and Employee on mutual consent may contribute on actual PF wages also but not mandatory.
From India, Madras
919From India, Madras
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Online payment of PF mandatory from 1.1.2016.pdf