I am Chandan Kumar. I am newly working in a company. My salary is ₹7,000/month. However, my company is asking me to deduct the provident fund from my salary, i.e., provident fund charge = ₹525. I would like to know if the Government of India has made new rules on the provident fund.
From India, Ahmedabad
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From India, Ahmedabad
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Your company is correct in asking you to deduct PF from your salary. You are requested to read the new PF rule to which you referred. This rule states that PF is now compulsory for salaries up to ₹15,000.
PF deductions amount to 12% of your basic salary. Your basic salary should be at least as per the Minimum Wage rate specified by your State Government.
Thank you.
From India, Mumbai
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2584PF deductions amount to 12% of your basic salary. Your basic salary should be at least as per the Minimum Wage rate specified by your State Government.
Thank you.
From India, Mumbai
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PF Calculation Sheet To The Subscribers At the Time Of Provident Fund Withdrawal.pdf
PF-Know Employees Provident Fund-CHART-L-4. doc