hi
to every one
i m new in this forum,
plz any one explin me the concept of leave encashment under PF act, as per my knowledge employer contribution of 12% is divided in to 8.33% for pension scheme and rest for PF, BUT NOW IF A EMLOYEE gets 8500 for leave encashment and for example his basic salary is 6000 and DA is 500 per month so now the PF should be deducted on (6000+500+8500) ie 15000 and 12% of it 1800 os now sum of rs. 541( max contribution under pension limit up to 6500) is for pension and rest of 1259 is for PF
plz clear me the concept
i will be thank ful to you
with regards,
Richa Jain
CA final student
E-mail [Login to view]
to every one
i m new in this forum,
plz any one explin me the concept of leave encashment under PF act, as per my knowledge employer contribution of 12% is divided in to 8.33% for pension scheme and rest for PF, BUT NOW IF A EMLOYEE gets 8500 for leave encashment and for example his basic salary is 6000 and DA is 500 per month so now the PF should be deducted on (6000+500+8500) ie 15000 and 12% of it 1800 os now sum of rs. 541( max contribution under pension limit up to 6500) is for pension and rest of 1259 is for PF
plz clear me the concept
i will be thank ful to you
with regards,
Richa Jain
CA final student
E-mail [Login to view]