With the new ruling of the raise of the Ceiling of EPF from Rs. 6,500 to Rs. 15,000, I just wanted to know if the PF has to be calculated on Rs. 15,000 or on the prevailing minimum wages. When the ceiling was Rs. 6,500, we had paid PF to the extent of Rs. 780, which is 12% of Rs. 6,500. Kindly clarify.
Regards,
Shweta.
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Regards,
Shweta.
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If the salary is below ₹15,000, pay PF on the actual salary. If the salary is ₹15,000 or above, pay PF on ₹15,000. This is as per your present practice. If the employee and employer wish, the payment can be on the actual salary regardless of the ceiling salary.
Regards,
Abbas. P.S
From India, Bangalore
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530Regards,
Abbas. P.S
From India, Bangalore
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PF Contribution on not less than Minimum Wage.pdf