Due to a wage revision with retrospective effect, the wages for the earlier period have decreased, resulting in a negative balance in dues. Consequently, the PF and pension contributions have turned negative. Is it possible to adjust the excess pension contributions made earlier now?
Thanks in advance.
From India, Chennai
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Thanks in advance.
From India, Chennai
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Wage Revision and Retrospective Effect
Wage revision with retrospective effect would still be higher than what was paid earlier. In case an interim increase was done, the final amount would be higher than the interim one. How did the salary go down? Or did you change the salary structure with retrospective effect to include PF contributions?
Regards
From India, Mumbai
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2508Wage revision with retrospective effect would still be higher than what was paid earlier. In case an interim increase was done, the final amount would be higher than the interim one. How did the salary go down? Or did you change the salary structure with retrospective effect to include PF contributions?
Regards
From India, Mumbai
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sir, Initially from NE-4 to NE-6 was given. However, due to court order, the wage was fixed from NE-4 to Ne-5 and to NE-6. Hence, the wage reduction. hope it will clear my position. regards,
From India, Chennai
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From India, Chennai
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PF Contribution on not less than Minimum Wage.pdf