My factory (rope-making) has 22 employees in Parbhani, Maharashtra. The actual salary range in my area is 6,500-8,000. We are paying approximately 9,600 as per MRW. My doubt is on which amount PF is to be deducted?
From India, Pune
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9From India, Pune
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PF Deduction Guidelines
PF is to be deducted on the actual salary up to a maximum salary of Rs. 15,000 per month. Thereafter, you have the option to peg the contribution at the maximum amount. It is not correct to base your contribution on salaries drawn elsewhere. If caught in the process, which is quite easy, you are liable to pay interest, penalty, and even face criminal prosecution. Therefore, it is not a risk worth taking.
From India, Mumbai
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PF is to be deducted on the actual salary up to a maximum salary of Rs. 15,000 per month. Thereafter, you have the option to peg the contribution at the maximum amount. It is not correct to base your contribution on salaries drawn elsewhere. If caught in the process, which is quite easy, you are liable to pay interest, penalty, and even face criminal prosecution. Therefore, it is not a risk worth taking.
From India, Mumbai
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