Is There a PF Scheme for Employees Earning Above 35k in Private Companies?

Hi, just wanted to know if there is any PF kind of scheme for higher-salaried employees (above 35k) in a private organization where both the employee and employer can contribute.

Yes, you can contribute to the PF scheme at 12% of your basic salary from both the employee and employer sides if the salary is higher (above 35K). Currently, the PF ceiling limit is 15,000 Basic+DA, but the contribution can be extended by mutual agreement between the employee and employer. However, for this, you may need to seek permission from your management as increased contributions will raise the CTC.

I hope this clarifies your doubts. Please revert in case you have more queries.

Regards

Understanding the PF Scheme for Higher-Salaried Employees

You should read the details and FAQ on the PF site first. Then you would have automatically had the answer.

The PF scheme provides for 12% of the employee's salary to be deducted and deposited with the department, with a matching contribution from the employer. Where the salary is above ₹15,000, the deductions are to be made as if the salary is ₹15,000.

The act also allows voluntary contributions by the employee above the specified limit, subject to not exceeding a total deduction from the gross salary of 50% (Payment of Wages Act). The employer is not required to match the contribution beyond ₹1800 per month. However, nothing in the law prevents the employer from giving more.