Is there any rule for changing PF amount in every six month or one year Thanks
From India, Jamshedpur
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7From India, Jamshedpur
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If you mean PF contributions, there is no rule that it should increase periodically.
From India, Mumbai
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From India, Mumbai
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We do not mean that the increase is in the percentage of PF. I mean to say that if every six months or one year, i.e., annually or half-yearly, there is an increase in the basic salary, then it automatically increases the PF contribution amount, not the percentage. It is fixed at 12%. I mean to say that if the State Government or any Government increases the minimum wages, which normally happens every six months, then it automatically increases the PF contribution, not the PF percentage.
So, why does the PF contribution amount (not the PF percentage) not increase every six months or annually?
Thanks
From India, Jamshedpur
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So, why does the PF contribution amount (not the PF percentage) not increase every six months or annually?
Thanks
From India, Jamshedpur
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Mr. S. K. Pathak,
Please note that as and when there is an increase in wages, i.e., Basic + DA + VDA, the employee's share of EPF contribution is payable at 12%. Presently, the wage ceiling is Rs 15,000/- per month. Please note that the EPF Act is a social security legislation enacted by the Central Government. The wage ceiling is periodically increased by EPFO.
Thank you.
From India, New Delhi
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Please note that as and when there is an increase in wages, i.e., Basic + DA + VDA, the employee's share of EPF contribution is payable at 12%. Presently, the wage ceiling is Rs 15,000/- per month. Please note that the EPF Act is a social security legislation enacted by the Central Government. The wage ceiling is periodically increased by EPFO.
Thank you.
From India, New Delhi
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EPFO has proposed for increase in Wages ceiling Limit for EPF , and it propose to Rs. 25000
From India, Jamshedpur
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From India, Jamshedpur
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Wage-ceiling-ep f-6500-15000-ci rcular-circular .pdf