Hi!
With the new ruling of the raise of the Ceiling of EPF from Rs. 6,500 to Rs. 15,000, I just wanted to know if the PF has to be calculated on Rs. 15,000 or on the prevailing minimum wages. When the ceiling was Rs. 6,500, we had paid PF to the extent of Rs. 780, which is 12% of Rs. 6,500. Kindly clarify.
Regards,
Shweta.
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With the new ruling of the raise of the Ceiling of EPF from Rs. 6,500 to Rs. 15,000, I just wanted to know if the PF has to be calculated on Rs. 15,000 or on the prevailing minimum wages. When the ceiling was Rs. 6,500, we had paid PF to the extent of Rs. 780, which is 12% of Rs. 6,500. Kindly clarify.
Regards,
Shweta.
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Dear Shweta,
If the salary is below 15000, pay PF on the actual salary. If the salary is 15000 or above, pay PF on 15000. This is as per your present practice. If the employee and employer wish, the payment can be on the actual salary regardless of the ceiling salary.
Abbas. P.S
From India, Bangalore
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530If the salary is below 15000, pay PF on the actual salary. If the salary is 15000 or above, pay PF on 15000. This is as per your present practice. If the employee and employer wish, the payment can be on the actual salary regardless of the ceiling salary.
Abbas. P.S
From India, Bangalore
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PF Contribution on not less than Minimum Wage.pdf
Splitting of Minimum Wages for the purpose of PF contribution not permissible.doc x