Dear Friends,
I have a query regarding waving off P.F capped basic. Our company is almost 10 years old ,from inception restricted basic Rs. 6500/- (capped basic) and deducting the same accordingly.
Recently our company has decided to waive off the capped basic from March onwards (staring month of P.F contributions) and going to deduct on actual basic. I know according to P.F norms we can do that. Problem is, there are few of our employees opposing this amendment because their take home will reduce. As we are all aware that in CTC concept either side contributions includes. We can agree with them but once company decided to impose this rule employees should comply.
My queries are:
Is there any clause in P.F stating, company can opt this for few employees who are willing to accept? another one is
Can we deduct P.F on capped basic from employees, who are not willing to opt this? Since it will not affect their take home salary.
I have asked about the same to one of P.F officials. He said that, company should follow the uniform rule and once decided should deduct on actually basic from all employees.
Hence I am requesting to all seniors please clarify my query.
An early action in this regard would be highly appreciated.
Regards,
TSK
I have a query regarding waving off P.F capped basic. Our company is almost 10 years old ,from inception restricted basic Rs. 6500/- (capped basic) and deducting the same accordingly.
Recently our company has decided to waive off the capped basic from March onwards (staring month of P.F contributions) and going to deduct on actual basic. I know according to P.F norms we can do that. Problem is, there are few of our employees opposing this amendment because their take home will reduce. As we are all aware that in CTC concept either side contributions includes. We can agree with them but once company decided to impose this rule employees should comply.
My queries are:
Is there any clause in P.F stating, company can opt this for few employees who are willing to accept? another one is
Can we deduct P.F on capped basic from employees, who are not willing to opt this? Since it will not affect their take home salary.
I have asked about the same to one of P.F officials. He said that, company should follow the uniform rule and once decided should deduct on actually basic from all employees.
Hence I am requesting to all seniors please clarify my query.
An early action in this regard would be highly appreciated.
Regards,
TSK