Dear All, We are deducting PF contributions as follows:
Employer: 12% on the basic up to the maximum limit of 15000/- = 1800 even though the basic is more than 15000/- . For employees whose basic is less than 15000/- paying 12% on actual basis.
Employee: 12% on actual basic irrespective of any upper cap.
My query, : is there any provision or rule which says that Employee also need to be restricted to 15000/- = 1800/- though the basic is more than 15000/- like employer contribution? Does this come under Voluntary contribution? if so do we needs to take acceptance from the employee for such contribution?
Please clarify.
Employer: 12% on the basic up to the maximum limit of 15000/- = 1800 even though the basic is more than 15000/- . For employees whose basic is less than 15000/- paying 12% on actual basis.
Employee: 12% on actual basic irrespective of any upper cap.
My query, : is there any provision or rule which says that Employee also need to be restricted to 15000/- = 1800/- though the basic is more than 15000/- like employer contribution? Does this come under Voluntary contribution? if so do we needs to take acceptance from the employee for such contribution?
Please clarify.