Dear all, I have read various mails on this group regarding PF contribution where basic exceeds Rs.6500/- I have a little different query. Company has been paying PF contribution even where basic exceeded 6500/- but now wants to restrict only upto basic of 6500/- ie we want to deduct PF for employees whose basic exceeds 6500/- but want to contribute only on 6500 and not the entire basic.
Another query is - can Company completely stop contributing where basic exceeded 6500? These kinds of requests have been received from employees since they don't want too much deduction to happen on account of PF. What is the procedure involved for restricting PF contribution upto 6500/- and what are the implications? does act permit it and if yes how do we go about doing it.
Regards,
Vandana
Another query is - can Company completely stop contributing where basic exceeded 6500? These kinds of requests have been received from employees since they don't want too much deduction to happen on account of PF. What is the procedure involved for restricting PF contribution upto 6500/- and what are the implications? does act permit it and if yes how do we go about doing it.
Regards,
Vandana