Can we will deduct pension amount on prorata,
for example: an employee is join a stablishment on 15 day of the month, his basic is 16000, in this he earned 8000/- for 15 days. we deduct pf on 8000 is Rs 960/- but in case of pension schem 6500 meximum limit. for 15 days is pensionable basic is Rs 3250/-. we deduct pension on Rs 3250/- is Rs. 271/-
pls suggest me as per pension scheme, that is right or ????????????
From India, Bareli
12for example: an employee is join a stablishment on 15 day of the month, his basic is 16000, in this he earned 8000/- for 15 days. we deduct pf on 8000 is Rs 960/- but in case of pension schem 6500 meximum limit. for 15 days is pensionable basic is Rs 3250/-. we deduct pension on Rs 3250/- is Rs. 271/-
pls suggest me as per pension scheme, that is right or ????????????
From India, Bareli
Dear Saini Due to PF act it is right to deduct his pension contribution. regards J tomar 9313353831
From India, Ghaziabad
From India, Ghaziabad
Dear Mukesh Saini,
As per EPS-95, statutory ceiling of monthly salary is Rs. 6500/-. If not opted for in excess of Rs. 6500/-, you may not deduct beyond that. Means whether he has worked for one month or one day, salary will only be taken into account.
Abbas.P.S
From India, Bangalore
As per EPS-95, statutory ceiling of monthly salary is Rs. 6500/-. If not opted for in excess of Rs. 6500/-, you may not deduct beyond that. Means whether he has worked for one month or one day, salary will only be taken into account.
Abbas.P.S
From India, Bangalore
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
PF Pension fund contribution beyond 58 years of age.pdf