Dear all,
As per the act, employer contribution on PF has to be calculated on the minimum wage ceiling. The minimum wage ceiling has been increased from Rs. 6,500 to Rs. 15,000. According to the Supreme Court judgment, PF is to be contributed on basic wages including the variable allowance.
For example, if the employee's basic salary + allowance is Rs. 5,000 (whether PF to be contributed on Rs. 5,000 or Rs. 6,500). Similarly, if the employee's basic salary + allowance is Rs. 12,000 (whether PF to be contributed on Rs. 12,000 or Rs. 15,000).
If you have any notification with reference to this, kindly forward the same.
Thanks in advance.
Regards,
P Priyamvatha
From India, Chennai
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1As per the act, employer contribution on PF has to be calculated on the minimum wage ceiling. The minimum wage ceiling has been increased from Rs. 6,500 to Rs. 15,000. According to the Supreme Court judgment, PF is to be contributed on basic wages including the variable allowance.
For example, if the employee's basic salary + allowance is Rs. 5,000 (whether PF to be contributed on Rs. 5,000 or Rs. 6,500). Similarly, if the employee's basic salary + allowance is Rs. 12,000 (whether PF to be contributed on Rs. 12,000 or Rs. 15,000).
If you have any notification with reference to this, kindly forward the same.
Thanks in advance.
Regards,
P Priyamvatha
From India, Chennai
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