Hi friends,
One employee's fixed PF wages are ₹26,000 per month. We have set the PF ceiling limit at ₹15,000. He was absent for 5 days. How much should the PF amount be in this case? Should it be ₹1,800 (i.e., on ₹15,000) or ₹1,500 (i.e., on ₹12,500)? Please guide.
From India, Mumbai
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One employee's fixed PF wages are ₹26,000 per month. We have set the PF ceiling limit at ₹15,000. He was absent for 5 days. How much should the PF amount be in this case? Should it be ₹1,800 (i.e., on ₹15,000) or ₹1,500 (i.e., on ₹12,500)? Please guide.
From India, Mumbai
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As he has drawn more than Rs 15,000, the PF contribution has to continue on the same basis (for Rs. 15,000). Unless the salary goes below Rs. 15,000, the contribution has to be maintained at the same level.
From India, Mumbai
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1593From India, Mumbai
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Epf wages for 26 days if fixed to 15000, then the amount that is earned as per number of days worked will be taken into consideration.
From India, Vadodara
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From India, Vadodara
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But can we maintain two basics; one actual as per appointment letter and another for pf calculation purpose i.e 15000 as per capping
From India, Mumbai
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From India, Mumbai
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An appointment letter defines compensation mentioned for the employee. The actual basic considered for all statutory reasons and compliance is what your employer mentions during contribution on the portal. EPF will also consider the amount of basic shown in ECR. For more details, please refer to the meaning of wages under EPF Act. EPF wages are derived based on this definition for statutory compliance.
From India, Vadodara
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From India, Vadodara
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Circular Dated 28-10-2016 for settlement of PF Death Case Claims within 7 days.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx