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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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
Acknowledge(0)Amend(0)
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls