No Tags Found!

Madhale
Hi..
pls advice, mgt is ready to pay pf upto 60k basic + DA, isit possible to up to 60k,
what is the max limit.
pension amount: we have to calculate on 15k or 60k, if 15k remaining amount should be for PF

From India, Bangalore
abbasiti
517

Dear Madhale, If employee & employer wish, there is no limit to contribute to PF. After contribution to pension fund on Rs. 15000, balance amount will be paid to PF account. Abbas.P.S
From India, Bangalore
abbasiti
517

Dear Madhale, Yes, if total PF contribution (employee+employer) is Rs. 6000; after remittance of Rs. 1250 to pension fund, balance Rs. 4750 will be paid to PF account. Abbas.P.S
From India, Bangalore
Anonymous
94

Dear Madhale,
As stated by Mr. Abbas, there is no limit for PF contribution. It is solely the management decision and same depends on your company CTC structure.
If the management agree to pay the employer contribution on salary beyond Rs. 15000/- as well, u can deduct the employee contribuion and deposit the same as employer contribution. If the PF is a component of ur CTC, that case also u can go to deduct higher PF. (the employer contribution will be included in CTC).
Moreover covering the employees on higher side is a great act for Social Security System. I will also prefer to go for the same.
However, if the PF is not a part of the CTC, u can restrict the PF deduction upto Basic Salary of Rs. 15000/-. (PF-Rs. 1800/pm). By doing so, the co. can save small part towards employer contribution. If u have huge no. of menpower and most of them are small pay scale, u can go for Restricted PF, this will increase take home salary and will save for the company as well.

From India, Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.