Hi all,
Some of our employees are willing to go with VPF.
As of now, we are showing their basic wages as Rs. 15000 (even it is more in some cases) in ECR and deducting Rs. 1800 (12% - max ceiling) towards Employee share and same amount is being paid towards Employer share (Rs. 550+Rs. 1250).
In order to debit amount towards VPF:
1) should we need to show their basic more than Rs. 15000 in ECR?
2) what column in ECR should be added/updated with VPF amount?
Looking forward for your help.
From India, Hyderabad
Some of our employees are willing to go with VPF.
As of now, we are showing their basic wages as Rs. 15000 (even it is more in some cases) in ECR and deducting Rs. 1800 (12% - max ceiling) towards Employee share and same amount is being paid towards Employer share (Rs. 550+Rs. 1250).
In order to debit amount towards VPF:
1) should we need to show their basic more than Rs. 15000 in ECR?
2) what column in ECR should be added/updated with VPF amount?
Looking forward for your help.
From India, Hyderabad
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