Dear all, please clarify the following with respect to EPF.
Employee Salary is 45,000.
Point 1:
PF calculated salary is 40,000 x 12% = 4,800 for the employee and 1,800 from the employer (restricted to 15,000). Is this acceptable, or do we have to restrict both contributions to 15,000 only? Please clarify.
From India, Hyderabad
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Employee Salary is 45,000.
Point 1:
PF calculated salary is 40,000 x 12% = 4,800 for the employee and 1,800 from the employer (restricted to 15,000). Is this acceptable, or do we have to restrict both contributions to 15,000 only? Please clarify.
From India, Hyderabad
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Upper Ceiling Limit for EPF Contributions
The upper ceiling limit is 15k for both the employee and the employer. Deductions are made on the basic salary, DA, and all such allowances that are mandatory and regularly deducted from the salary of all applicable employees.
From India, Vadodara
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382The upper ceiling limit is 15k for both the employee and the employer. Deductions are made on the basic salary, DA, and all such allowances that are mandatory and regularly deducted from the salary of all applicable employees.
From India, Vadodara
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Salary Sheet & PF PT Calculation & Challan.xls