HI friends, Now a days I am facing problem related to PF contribution of my company.
We are small scale company. we normally our salary structure is like.
Basic = 60% of gross
HRA = 40% of Basic
PF = 12% of basic
Because of this structure we have to pay 1800 pf for one employee
employee 1800 + employer 1800 + admin charge = 4000
we have more than 50 employees .so now its really difficulty for company to pay such big amount.
Please give suggestion for cost cutting in Pf
Or is their any rule related to pf so that company do not have to contribute in PF?
We are small scale company. we normally our salary structure is like.
Basic = 60% of gross
HRA = 40% of Basic
PF = 12% of basic
Because of this structure we have to pay 1800 pf for one employee
employee 1800 + employer 1800 + admin charge = 4000
we have more than 50 employees .so now its really difficulty for company to pay such big amount.
Please give suggestion for cost cutting in Pf
Or is their any rule related to pf so that company do not have to contribute in PF?