Dear Members,
Kindly clarify few doubts related to PF lower ceiling.My company wants to minimize PF cost without violating the rules prescribed.
I went to PF office in my area and they told that Basic can be anything between Minimum wage and 15000.12% of this basic would consider legal.
1.If i keep 8500 as minimum wage where the gross salary is 15000,is it permissible.
2.Will PF be charged on full 15000.
3.Can this total 15000 be split into Basic+ HRA+Conveyance,and PF be charged only on baisc amount.
Thanks
From India, Indore
Kindly clarify few doubts related to PF lower ceiling.My company wants to minimize PF cost without violating the rules prescribed.
I went to PF office in my area and they told that Basic can be anything between Minimum wage and 15000.12% of this basic would consider legal.
1.If i keep 8500 as minimum wage where the gross salary is 15000,is it permissible.
2.Will PF be charged on full 15000.
3.Can this total 15000 be split into Basic+ HRA+Conveyance,and PF be charged only on baisc amount.
Thanks
From India, Indore
Dear Members,
Kindly clarify few doubts related to PF lower ceiling.My company wants to minimize PF cost without violating the rules prescribed.
I went to PF office in my area and they told that Basic can be anything between Minimum wage and 15000.12% of this basic would consider legal.
1.If i keep 8500 as minimum wage where the gross salary is 15000,is it permissible. - Yes
2.Will PF be charged on full 15000. - No if will be charged only on Basic +DA/Minimum Wage
3.Can this total 15000 be split into Basic+ HRA+Conveyance,and PF be charged only on baisc amount. - Yes you can splilt but basic +DA should not be less than notified by Appropriate Government
Thanks
From India, Pune
467Kindly clarify few doubts related to PF lower ceiling.My company wants to minimize PF cost without violating the rules prescribed.
I went to PF office in my area and they told that Basic can be anything between Minimum wage and 15000.12% of this basic would consider legal.
1.If i keep 8500 as minimum wage where the gross salary is 15000,is it permissible. - Yes
2.Will PF be charged on full 15000. - No if will be charged only on Basic +DA/Minimum Wage
3.Can this total 15000 be split into Basic+ HRA+Conveyance,and PF be charged only on baisc amount. - Yes you can splilt but basic +DA should not be less than notified by Appropriate Government
Thanks
From India, Pune
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