On the earned Basic Employer need to contribute 8.33% to Pension contribution (maximum limit Rs.1250/-) and 3.67% goes to PF contribution. If the Pension contribution amount exceeds Rs.1250/- the balance amount to be moved to PF contribution.
PF can be contributed on minimum basic of Rs.15000/- or actual basic over and above Rs.15000/- based on mutual consent of Employer and Employee.
From India, Madras
Community Support on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.