What is the limit of basic for EPF deduction to be mandatory Rs 6500 basic or Rs 15000 basic Kindly let me know.
From India
From India
Dear Mukti,
Greetings for the day,
Component consider for deduction of EPF is basic+da/vda+food conc. (if any), but mind it basic salary must not be less that the minimum wages as defind by state time to time. Secondly basic upto Rs.6500/- , the ducution of EPF will be must if basic exceed than Rs.6500/- then it is solely depend on the employer to provide benefit of EPF to its employee or not. Thirdly it is also depend upon the employer to deduct epf on actual basic or restrict for Rs. 6500/-. Once if an employee becomes a member of epf then the facility can't be withdrawn until his/her basic exceed, but it may restrict to Rs. 6500/-, But accumulation of EPS/EDLI should be done on Rs. 6500/-.
Hope this will be enough to clear your doubt, also go to my previous posting.
Thanks & Regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
252Greetings for the day,
Component consider for deduction of EPF is basic+da/vda+food conc. (if any), but mind it basic salary must not be less that the minimum wages as defind by state time to time. Secondly basic upto Rs.6500/- , the ducution of EPF will be must if basic exceed than Rs.6500/- then it is solely depend on the employer to provide benefit of EPF to its employee or not. Thirdly it is also depend upon the employer to deduct epf on actual basic or restrict for Rs. 6500/-. Once if an employee becomes a member of epf then the facility can't be withdrawn until his/her basic exceed, but it may restrict to Rs. 6500/-, But accumulation of EPS/EDLI should be done on Rs. 6500/-.
Hope this will be enough to clear your doubt, also go to my previous posting.
Thanks & Regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
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