Hello everyone, I have a PF-related question.
1) In this current scenario, how much % of the total salary do we have to use for basic?
2. If an employee's total salary is 20,000 per month, then how much should I put as the basic percentage?
3. If an employee's salary is 40,000 per month, then what should the basic amount be?
4. Can the employer cap an employee's monthly contribution at 1,800 (12% of 15,000)?
Please share your views.
From India, Delhi
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301) In this current scenario, how much % of the total salary do we have to use for basic?
2. If an employee's total salary is 20,000 per month, then how much should I put as the basic percentage?
3. If an employee's salary is 40,000 per month, then what should the basic amount be?
4. Can the employer cap an employee's monthly contribution at 1,800 (12% of 15,000)?
Please share your views.
From India, Delhi
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Dear Friend, Except HRA, all other components considered as Basic, Employer will pay the amount capping @ 15000 i.e 1800.
From India, Mumbai
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From India, Mumbai
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Dear Friend, As per Income Tax act, HRA for metro 50% and Non Metro 40% accordingly keep the component, so employees may get the benefit of exemption.
From India, Mumbai
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From India, Mumbai
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