I m working with a manufacturing company as an HR executive. I have a dought regarding PF.
earlier my company was deducting PF on full basic i.e if an employee is having a basic of 10000 , the employee\'s share was 12% that is 1200 and similarly the employer\'s share that is 1200(12%) and admin charges extra.
But now the company came up with some new policy and decided that the company will not pay its share of contribution on full basic as they were doing earlier, they will only contribute on 6500 basic.
My dought is , can we reduce the basic amount from 10000 to 6500? for those employees who are already contributing on 10000 basic?
From India, Delhi
2earlier my company was deducting PF on full basic i.e if an employee is having a basic of 10000 , the employee\'s share was 12% that is 1200 and similarly the employer\'s share that is 1200(12%) and admin charges extra.
But now the company came up with some new policy and decided that the company will not pay its share of contribution on full basic as they were doing earlier, they will only contribute on 6500 basic.
My dought is , can we reduce the basic amount from 10000 to 6500? for those employees who are already contributing on 10000 basic?
From India, Delhi
yes its rite there is no doubt employer can reduce it but not less then 780 if his earn basic + DA is more then 6500
From India, Faridabad
From India, Faridabad
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.
PF WORKING-MASTER SUMMARY.xls