Hi Seniors,
I want to know if there is any capping over contribution of PF by the employee/employer. I understand the contribution of employee and employer stands 12% and 13.61% (including PF, Pension, Admin chgs) respectively on base salary. However, is it feasible for any company to restrict the contribution to certain limit, reason being the basic pay of any employee exceeds 20k.
Please advice!
I want to know if there is any capping over contribution of PF by the employee/employer. I understand the contribution of employee and employer stands 12% and 13.61% (including PF, Pension, Admin chgs) respectively on base salary. However, is it feasible for any company to restrict the contribution to certain limit, reason being the basic pay of any employee exceeds 20k.
Please advice!