Hi All,
I have recently joined a new company. In my previous organization, the PF contribution was Rs.780 (12% of Rs. 6500) from both employer and employee. However, the "Basic" component was much more than Rs. 6500.
What I want to know is, can I have this same structure with my new company? Will there be any legal obligations for my company or me if we do this?
Also, can I have different "Basic" for PF and Income tax calculation like I had in my previous company?
If possible, I would like to back this up with documentation so that my new company can implement this.
Thanks ...
I have recently joined a new company. In my previous organization, the PF contribution was Rs.780 (12% of Rs. 6500) from both employer and employee. However, the "Basic" component was much more than Rs. 6500.
What I want to know is, can I have this same structure with my new company? Will there be any legal obligations for my company or me if we do this?
Also, can I have different "Basic" for PF and Income tax calculation like I had in my previous company?
If possible, I would like to back this up with documentation so that my new company can implement this.
Thanks ...