Hi,
If one employee's salary (i.e., basic + DA) is 10,000, and he wants to contribute 1,200 VPF per month, what is the employer's contribution? Also, how much amount will go to Account No. 1 and Account No. 10? Please clarify.
Regards, Murali Chunchu
From India, Hyderabad
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If one employee's salary (i.e., basic + DA) is 10,000, and he wants to contribute 1,200 VPF per month, what is the employer's contribution? Also, how much amount will go to Account No. 1 and Account No. 10? Please clarify.
Regards, Murali Chunchu
From India, Hyderabad
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Dear Murali,
The Voluntary Provident Fund (VPF) will only attract the prevailing interest rate, and no other benefits will be offered. It is a saving element for your future which you cannot easily withdraw and spend. There is no liability towards the employer for the VPF.
Thank you.
From India, Kumbakonam
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1189The Voluntary Provident Fund (VPF) will only attract the prevailing interest rate, and no other benefits will be offered. It is a saving element for your future which you cannot easily withdraw and spend. There is no liability towards the employer for the VPF.
Thank you.
From India, Kumbakonam
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The employer has no obligation to contribute more than the statutory limit of wages of Rs.6500/- p.m B.Saikumar HR & Labour Law Advsior Mumbai
From India, Mumbai
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From India, Mumbai
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The employee cannot compel the employer to contribute PF on wages of more than 6500/-. But the employer has a choice to volenterly contribute on wages of more than 6500/-
From India, Kochi
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From India, Kochi
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Dear All,
Thank you very much for your valuable information. Please let me know the values of Account 1 and Account 10 if the employee is contributing 1200 as VPF and the employer contribution is 780. In the monthly statement, what is the Employee EPF Amount and VPF Amount in this regard.
Regards,
Murali Chunchu
From India, Hyderabad
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Thank you very much for your valuable information. Please let me know the values of Account 1 and Account 10 if the employee is contributing 1200 as VPF and the employer contribution is 780. In the monthly statement, what is the Employee EPF Amount and VPF Amount in this regard.
Regards,
Murali Chunchu
From India, Hyderabad
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