hi neeru,
There are some basic rules regarding PF deduction..
1. If Basic+DA is<=6500 then employee=12 % of basic+DA,emloyer=12% of basic+DA
apart from that employer has to pay 1.61 % as administrative charges towards PF.
2. If an employee was earlier having Basic salary less than 6500 & his salary has been revised to be greater than 6500, he would continue to be a member of PF.(If during all this period he was ur employee)
3. However a new joinee ie a fresher who have not been a member of PF earlier is drawing basic salary>6500 would be an exempted employe.
4. For an employee who was a member of PF in his earliar orgnistions has joined urs with salary >6500,in that case there are two possibilities-
a. He can be exempted by getting & signed form -11.
b. Otherwise he should continue to be a member. It is a better decision keeping in mind the justice & equity.
hope ur doubts have been cleared......
For further queries feel free to contact....vikas.dubey@6ten.co.in
regards
vikas
Dear All,
I want to know that Is there any probition for PF taken or not.
If the person has Basig amount Rs. 6500/- if yes than kindly let me know the section and Act of this provision.
Thanks & Regards
Neeru[/quote]