Hi All,
I don,t know what is the actual situation in India regarding P.Fund but in Pakistan It is clear that P.fund contribution is 8.33% of Basic pay and same contribution pay employer in P.fund account.
So If Basic pay is RS: 6500/-month then deduction of P.fund contribution will be as under:
Employee Contribution: 6500*8.33%=541.45
Employer Contribution: = 541.45
as basic will increase Pf will increase automatically with same ratio and I think that there is no maximum Limit of P.Fund Its depends of Company Size and its policies, Some companies paying both P.fund and Gratuity.
I don,t know what is the actual situation in India regarding P.Fund but in Pakistan It is clear that P.fund contribution is 8.33% of Basic pay and same contribution pay employer in P.fund account.
So If Basic pay is RS: 6500/-month then deduction of P.fund contribution will be as under:
Employee Contribution: 6500*8.33%=541.45
Employer Contribution: = 541.45
as basic will increase Pf will increase automatically with same ratio and I think that there is no maximum Limit of P.Fund Its depends of Company Size and its policies, Some companies paying both P.fund and Gratuity.