Hi Friends, One employee's fixed PF wages is 26,000 Pm. we have kept PF ceiling limit 15000. He was absent for 5 days.
How much should be the PF amount in this case? Should it be 1800 (i.e on 15000) or 1500 (i.e on 12500)? Please guide.
From India, Mumbai
How much should be the PF amount in this case? Should it be 1800 (i.e on 15000) or 1500 (i.e on 12500)? Please guide.
From India, Mumbai
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
1530From India, Mumbai
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
From India, Vadodara
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
From India, Mumbai
An appointment letter defines compensation mentioned is for the employee.The actual basic considered for all statutory reasons and compliance is what your employer mentions during contribution on the poratal.Epf will also consider the amount of basic which is shown in ecr.
For more details pls refer to meaning of wages under epf act.
Epf wages are derived based on this definition for statutory compliance.
From India, Vadodara
For more details pls refer to meaning of wages under epf act.
Epf wages are derived based on this definition for statutory compliance.
From India, Vadodara
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ESI NOTIFICATION CEILING LIMIT 10000 TO 15000 w.e.f.1-05-2010 .doc
GO_Wage ceiling limit increase 200410.pdf
HIKE OF EPF CEILING LIMIT.jpg