Dear Rajeev,
Thanks for the clarification about VPF. My major queries about VPF is the percentage and also do we need to take permission from PF commissioner by filling any particular form. For this i have checked with the Enforcement officer and awaiting for his reply. Anyways thanks again.
Dear Chitra,
If any employee is covered under EPF than its must to deduct same percentage of amount from both employee and employer, only difference will as mentioned by Rajeev is
If basic is more than Rs 6500 you have to deduct 12% on exact basic from employee side and 12% of only Rs 6500 towards Pension fund (this is called as restricted wage for pension calculation) and difference amount should be considered as Employer PF contribution. Hope its clear for you now. You can also visit PF website for more details
www.epfindia.com
Regards
Amith R.