plz clarify me about ceiling limit of pf, if the basic is 30000 then we have to take epf wages as 15000 and deduction will be
8.33% of 15000 = 1249.5
3.67% of 15000= 550
and other 1.10%admin charges, .5% EDLI, 0.01% Inspection charges
and if the salary is 5400, then deduction will be
I mean i want to know about the pf contribution if the salary>15000 and also when salary <6500 what to do in such cases
From India, Jabalpur
18.33% of 15000 = 1249.5
3.67% of 15000= 550
and other 1.10%admin charges, .5% EDLI, 0.01% Inspection charges
and if the salary is 5400, then deduction will be
I mean i want to know about the pf contribution if the salary>15000 and also when salary <6500 what to do in such cases
From India, Jabalpur
Hi Bhumika
If at all the basic is 15000/- and above then you can restrict EPF contributions to the ceiling limit of 15000/- only
If he/she is already member with EPF then yes you can contribute 8.33% of 15000/- towards EPS & 3.67% on 15000/- towards EPF
If at all there is any new employee & if he/she doesn't have EPF in previous organisations or fresher then if his Basic is above 15000/- then there is no diversion to EPS entire 12% of ER contribution shall be accounted towards EPF only. There is no EPS for those employees
Small change in Admin charges
Admin charges is revised to 0.85%, 0.5EDLI & 0.01% EDLI Admin charges remains same
If basic is 5400/- then EPF is contributed on 5400/- only
Calculation remain same for both the cases
any clarifications you can reach me
From India, Bangalore
If at all the basic is 15000/- and above then you can restrict EPF contributions to the ceiling limit of 15000/- only
If he/she is already member with EPF then yes you can contribute 8.33% of 15000/- towards EPS & 3.67% on 15000/- towards EPF
If at all there is any new employee & if he/she doesn't have EPF in previous organisations or fresher then if his Basic is above 15000/- then there is no diversion to EPS entire 12% of ER contribution shall be accounted towards EPF only. There is no EPS for those employees
Small change in Admin charges
Admin charges is revised to 0.85%, 0.5EDLI & 0.01% EDLI Admin charges remains same
If basic is 5400/- then EPF is contributed on 5400/- only
Calculation remain same for both the cases
any clarifications you can reach me
From India, Bangalore
thanks alot sir, 5400/- basic is also considered, then why ceiling limit is 6500-15000, i thought if basic+DA < 6500 then such people will not contribute to PF complaince
From India, Jabalpur
From India, Jabalpur
there is not ceiling limit of 6500 - 15000. Earlier the ceiling limit was 6500/- & now its increased to 15000/- so you would have got confused
From India, Bangalore
From India, Bangalore
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Statutory Compliance of a Industrial or Commercial Unit.xls
Statutory-compl iance.pdf
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