Respected All, My Query: Under EPF Scheme, if employee voluntarily wish to contribute more than 12% then up to what percentage he can contribute maximum. If possible please give law reference. Thanks
From India
Acknowledge(0)
Amend(0)
3From India
Acknowledge(0)Amend(0)
Dear Friend, You may choose VPF option, where maximum contribution is up to 100% of his Basic Salary and Dearness Allowance. Interest is earned at the same rate as the EPF.
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Dear All,
Thank you for your reply. Everyone has different answers. Is there any fixed percentage? What is the ceiling?
Secondly, if it's 100% or 80%, then if an employee's deductions reach 50% above their gross, will it be acceptable under the Minimum Wage Act? The act states that deductions should not exceed 50% of your gross.
Please clear my doubt.
From India
Acknowledge(0)Amend(0)
Thank you for your reply. Everyone has different answers. Is there any fixed percentage? What is the ceiling?
Secondly, if it's 100% or 80%, then if an employee's deductions reach 50% above their gross, will it be acceptable under the Minimum Wage Act? The act states that deductions should not exceed 50% of your gross.
Please clear my doubt.
From India
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
EPF Scheme Guidelines For Implementation Of PMGKY Credit Of Employers And Employee Contribution .pdf
EPF & Misc. Provision Act.1952 & the scheme.ppt