Sirs/Ma\'ams,
I am deducting EPF from my employees as per example: Basic= 11,000 Employee Share @12%= 1320 Employer\'s @13.6%= 1496. Gross Sal= 12,496 Is this correct? If not:
1.Can I now fall back on the wage ceiling of Rs.6500 and deduct accordingly so that my employees get more cash-in-hand, and how can I do so?
2. What will happen to the excess amount that has been deposited so far into the EPFO A/c?
I am deducting EPF from my employees as per example: Basic= 11,000 Employee Share @12%= 1320 Employer\'s @13.6%= 1496. Gross Sal= 12,496 Is this correct? If not:
1.Can I now fall back on the wage ceiling of Rs.6500 and deduct accordingly so that my employees get more cash-in-hand, and how can I do so?
2. What will happen to the excess amount that has been deposited so far into the EPFO A/c?