Since lot of discusion is active in this forum related to PF I thought I will share my query in this thread.
I have few doubts regarding PF contribution. Till september 2014, we calculated PF based on 6500 basic salary. The cut off was 780 from employee and 885 from employer.
I understand, based on the new notification, the calculation should be done according to the basic salary of each employee. My doubt is regarding employer contribution .The employer contribution was 13.61% , but now our acountant was saying that the employer contribution is 13.51 %. I rechecked it with the accountant and he confirmed that the contribution inclusive of all expenses from employer side is 13.51%.
Can you clarify on this matter.
I have few doubts regarding PF contribution. Till september 2014, we calculated PF based on 6500 basic salary. The cut off was 780 from employee and 885 from employer.
I understand, based on the new notification, the calculation should be done according to the basic salary of each employee. My doubt is regarding employer contribution .The employer contribution was 13.61% , but now our acountant was saying that the employer contribution is 13.51 %. I rechecked it with the accountant and he confirmed that the contribution inclusive of all expenses from employer side is 13.51%.
Can you clarify on this matter.