Hi Bhuvana,
Mr. Rajendra Marathe is correct,
There is no such type of rules where the basic salary is restricted to Rs, 6500/-, you can contribute your PF contribution on your actual basis salary, if more than Rs. 6500/-. But if your basic salary is more than 6,500 and you are contributing your pf amount on that so your company has to contribute the same amout on your actual basic salary, so it will be more burden on employer to pay more money and also admin charge will be more. So most of the company restricted their PF elligible basic salary to Rs. 6500/-. So it is totally depend on managment rules, how much benifit they want to give their employee.
Rs. 6,500 is restricted for Pension & EDLI part only. The RPFC can provide the Pension & EDLI benifit upto Rs. 6500/- only. You can contribute to Pension account (A/C - 10) upto Rs. 541/- (Rs. 6500 x 8.33%) not more than that.
Regards,
Dibyendu Ghosh
Mr. Rajendra Marathe is correct,
There is no such type of rules where the basic salary is restricted to Rs, 6500/-, you can contribute your PF contribution on your actual basis salary, if more than Rs. 6500/-. But if your basic salary is more than 6,500 and you are contributing your pf amount on that so your company has to contribute the same amout on your actual basic salary, so it will be more burden on employer to pay more money and also admin charge will be more. So most of the company restricted their PF elligible basic salary to Rs. 6500/-. So it is totally depend on managment rules, how much benifit they want to give their employee.
Rs. 6,500 is restricted for Pension & EDLI part only. The RPFC can provide the Pension & EDLI benifit upto Rs. 6500/- only. You can contribute to Pension account (A/C - 10) upto Rs. 541/- (Rs. 6500 x 8.33%) not more than that.
Regards,
Dibyendu Ghosh