Dear All:
I would like to know PF rules in detail. As we all know that PF thresholds are revised from 1st Sep 2014. So, my query is, in my organisation most of my employees are with basic salary more that 15000/- but their PF amount deduction is flat 1800 pm (12% of 15000). Is it mandatory that employee more that 15000/- basic is limited to 1800/- as deduction??? Is this deduction of 1800 is correct or not as per law??Is it not possible to deduct 12% direct on Actual Basic as per law???
What law exactly says?? Had google a lot and also asked few consultant but no satisfactory reply. Hope this discussion thread help me to get my answer.
Appreciate your revert and suggestions for the same.
Thanks
Triveni
From India, Thana
1I would like to know PF rules in detail. As we all know that PF thresholds are revised from 1st Sep 2014. So, my query is, in my organisation most of my employees are with basic salary more that 15000/- but their PF amount deduction is flat 1800 pm (12% of 15000). Is it mandatory that employee more that 15000/- basic is limited to 1800/- as deduction??? Is this deduction of 1800 is correct or not as per law??Is it not possible to deduct 12% direct on Actual Basic as per law???
What law exactly says?? Had google a lot and also asked few consultant but no satisfactory reply. Hope this discussion thread help me to get my answer.
Appreciate your revert and suggestions for the same.
Thanks
Triveni
From India, Thana
Hello Parab,
I am sure all your queries would get resolved if you go through the thread on PF available in this website.
What you are asking is something that many people have asked time and again. The answers given by the fraternity members are quite detailed and precise.
Check it out.
Cheers, A.B.
From India, Mumbai
I am sure all your queries would get resolved if you go through the thread on PF available in this website.
What you are asking is something that many people have asked time and again. The answers given by the fraternity members are quite detailed and precise.
Check it out.
Cheers, A.B.
From India, Mumbai
Dear Triveni,
For a EPF member with a salary of more than Rs. 15000, the statutory contribution to PF is Rs. 1800. If employee and employer wish contribution may be on actual salary; which is not statutory but optional.
I expect that your queries will be cleared with this answer.
Abbas.P.S
From India, Bangalore
For a EPF member with a salary of more than Rs. 15000, the statutory contribution to PF is Rs. 1800. If employee and employer wish contribution may be on actual salary; which is not statutory but optional.
I expect that your queries will be cleared with this answer.
Abbas.P.S
From India, Bangalore
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls