Hello, I have a query about what happens to the quantum of employer’s contribution when the employee’s salary exceeds 15,000? And please quote references also.
From India, Noida
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From India, Noida
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Simple, If any employee crosses 15000/- basic salary then 15000*12%=1800 15000*8.33%=1250 15000*3.67%=550.
From India, Jabalpur
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14From India, Jabalpur
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Thanks Meera. Can you post any reference? As I’m seeing in para 29 EPF scheme. It says minimum mandatory contribution by employer is 10% or 12% of basic + DA + RA. I’m a little confused.
From India, Noida
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From India, Noida
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Even if the wage exceeds Rs. 15,000/- per month, the employer's contribution can be limited to Rs. 15,000/- while the employee has the option to contribute based on a higher wage, with the approval of the PF authority.
B. Saikumar HR & Labour Relations Adviser
From India, Mumbai
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B. Saikumar HR & Labour Relations Adviser
From India, Mumbai
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Dear Manish,
In your case, the management is willing to pay the contributions for the higher amount that the employee received; they have to pay the full contribution. If the management is not willing to pay a higher contribution, they will pay 13% towards the employer contribution for Rs. 15,000/- only.
P. Karunakaran
From India, Chennai
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In your case, the management is willing to pay the contributions for the higher amount that the employee received; they have to pay the full contribution. If the management is not willing to pay a higher contribution, they will pay 13% towards the employer contribution for Rs. 15,000/- only.
P. Karunakaran
From India, Chennai
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