Hi All,
I have recently joined a new company, My basic salary is Rs.69000 but my Pf deduction is only Rs.780 so the contribution of the employer towards the Pf is also only Rs.780. I had the idea that contribution to the PF a/c should be minimum 12% of basic. I talked to the HR regarding the same but I was said that this is as per the rule.Contributing atleast 12 %+12% towards my pf account saves some tax and also secures my future.So Plz help me regarding this n if this is wrong where can I complain about it for this amount is almost same for every employee over here.
Thanks & regards
From India, Bangalore
I have recently joined a new company, My basic salary is Rs.69000 but my Pf deduction is only Rs.780 so the contribution of the employer towards the Pf is also only Rs.780. I had the idea that contribution to the PF a/c should be minimum 12% of basic. I talked to the HR regarding the same but I was said that this is as per the rule.Contributing atleast 12 %+12% towards my pf account saves some tax and also secures my future.So Plz help me regarding this n if this is wrong where can I complain about it for this amount is almost same for every employee over here.
Thanks & regards
From India, Bangalore
Hello Jack of all trade,
I believe company is contributing EPF on Rs.6,500.00 a part of your basic salary. As per the rule EPF contribution is mandatory till Rs.6,500.00 so you cannot claim as right.
So I would advice to pursue with your employer to contribute to whole basic salary or you can opt for voluntary contribution of your total basic salary.
I would advice discuss with your HR personnel and believe this is helpful for you.
Regards,
Shaikh Abedeen
Human Resources Professional
From India, Bhubaneswar
135I believe company is contributing EPF on Rs.6,500.00 a part of your basic salary. As per the rule EPF contribution is mandatory till Rs.6,500.00 so you cannot claim as right.
So I would advice to pursue with your employer to contribute to whole basic salary or you can opt for voluntary contribution of your total basic salary.
I would advice discuss with your HR personnel and believe this is helpful for you.
Regards,
Shaikh Abedeen
Human Resources Professional
From India, Bhubaneswar
hello completely agree with mr.Shaikh Abedeen. companies are doing because if they deduct on your basic the amount of their contribution will also rise. thats why they are doing so.
From India, New Delhi
From India, New Delhi
Dear jackofalltrade
In this case better you opt for voluntary pf Deduction at higher rate but the company's contribution will be restricted up to 780 only because for one employee company can not change its policy but if you wish you can tell company to deduct pf on entire basic and the same company can do,you have to fill one form for that which is enclosed for your reference.
Nilesh v soni
Labour Laws Consultant
9869477332
From India, Mumbai
In this case better you opt for voluntary pf Deduction at higher rate but the company's contribution will be restricted up to 780 only because for one employee company can not change its policy but if you wish you can tell company to deduct pf on entire basic and the same company can do,you have to fill one form for that which is enclosed for your reference.
Nilesh v soni
Labour Laws Consultant
9869477332
From India, Mumbai
Yes its right. Maximum celing limit is 6,500/- and upto this amount EPF contibution is mandatory after that its optional and depend on company for deduction on total basic. But voulntary contibution can be done if you want to save your Tax deduction for IT.
RK Panda
Legal Professional
EPF,ESIC, EXCISE, Service Tax
From India, Rourkela
RK Panda
Legal Professional
EPF,ESIC, EXCISE, Service Tax
From India, Rourkela
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