Dear All:
I would like to know PF rules in detail. As we all know that PF thresholds are revised from 1st Sep 2014. So, my query is, in my organisation most of my employees are with basic salary more that 15000/- but their PF amount deduction is flat 1800 pm (12% of 15000). Is it mandatory that employee more that 15000/- basic is limited to 1800/- as deduction??? Is this deduction of 1800 is correct or not as per law??Is it not possible to deduct 12% direct on Actual Basic as per law???
What law exactly says?? Had google a lot and also asked few consultant but no satisfactory reply. Hope this discussion thread help me to get my answer.
Appreciate your revert and suggestions for the same.
Thanks
Triveni
I would like to know PF rules in detail. As we all know that PF thresholds are revised from 1st Sep 2014. So, my query is, in my organisation most of my employees are with basic salary more that 15000/- but their PF amount deduction is flat 1800 pm (12% of 15000). Is it mandatory that employee more that 15000/- basic is limited to 1800/- as deduction??? Is this deduction of 1800 is correct or not as per law??Is it not possible to deduct 12% direct on Actual Basic as per law???
What law exactly says?? Had google a lot and also asked few consultant but no satisfactory reply. Hope this discussion thread help me to get my answer.
Appreciate your revert and suggestions for the same.
Thanks
Triveni