Dear Members,
Please advice on the impact of the governments decision to increase the EPFO Wage Ceiling from Rs.6500 to Rs.15000. Will it mean that if an employee Basic+DA amounts to Rs.20K, then the mandatory PF Employee/Employer contribution now should be Rs.1800 (12% of Rs.15,000) insted of Rs. 780 (12% of Rs.6,500).
Please advice on the impact of the governments decision to increase the EPFO Wage Ceiling from Rs.6500 to Rs.15000. Will it mean that if an employee Basic+DA amounts to Rs.20K, then the mandatory PF Employee/Employer contribution now should be Rs.1800 (12% of Rs.15,000) insted of Rs. 780 (12% of Rs.6,500).