The ceiling limit of the monthly salary is Rs. 6500. However, above this ceiling, it is optional for both the employer and the employee. If both parties are willing to contribute based on the actual salary exceeding the ceiling limit, currently, there is no restriction.
Thanks. Will both contribute 12%? What is the procedure in a company? Which form needs to be filled, and where should it be submitted? Where does the company submit the form for a new employee?
The ceiling salary for EPF is Rs. 6,500, and for bonus payment, it is Rs. 10,000. However, for bonus calculation, only a salary of Rs. 3,500 will be taken into account.
Regards,
Abbas.P.S
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