Dear All
As per the new PF notification now employees who are getting a basic pay or Rs. 15000/- would be covered by PF contribution. Earlier this limit was Rs. 6500/-
In such a case how to treat the PF deduction. Suppose we were giving a CTC is 3.12 lpa and monthly take home after deduction is Rs. 25,000/- and her basic is Rs. 12,000/- ,Earlier she was not covered under PF so there was no deduction for that. But now we need to deduct PF from her salary.She has been with the company past 2 years.
Can we deduct both the shares ( employee and employer ) from her salary, as we have mentioned Rs. 25,000/- as her CTC in the appointment letter.
How are such employees will be treated in your company ? Employees will take the burden of the deduction ( both shares or one share ) or the entire amount will be borne by the company ?
Kindly suggest.
Thanks
Jagriti
As per the new PF notification now employees who are getting a basic pay or Rs. 15000/- would be covered by PF contribution. Earlier this limit was Rs. 6500/-
In such a case how to treat the PF deduction. Suppose we were giving a CTC is 3.12 lpa and monthly take home after deduction is Rs. 25,000/- and her basic is Rs. 12,000/- ,Earlier she was not covered under PF so there was no deduction for that. But now we need to deduct PF from her salary.She has been with the company past 2 years.
Can we deduct both the shares ( employee and employer ) from her salary, as we have mentioned Rs. 25,000/- as her CTC in the appointment letter.
How are such employees will be treated in your company ? Employees will take the burden of the deduction ( both shares or one share ) or the entire amount will be borne by the company ?
Kindly suggest.
Thanks
Jagriti