Hi All, I have a doubt in PF deduction, so please help me to understand it. As per OF notification 2014 they have increased basic up to 1500. As per this notification employer should deduct Rs. 1800 as pf contribution for all employees whose basic is also less than 15000 or employer should deduct PF on the basic salary which is Rs. 6000 or less than Rs. 15000. There are no provision if DA.
Thanks
From India, New Delhi
Thanks
From India, New Delhi
The limit is Rs. 15000/-.
It depends on basic of employee. Suppose if Basic is 5000/- then the contribution of both employeer and employee will on the same amount. It means whatever may be the Basic both employer and employee will submit the contribution of same structure.
On the contribution of 8.33% is question. In case if the basic is 20000 the 8.33% of 15000 will go the Pension (Cap of Rs. 1250) rest 8.33% of 5000 will go the Fund. Its means the cap on pension is of Rs. 1250 the contribution above 1250 goes to the fund.
From India, Raipur
It depends on basic of employee. Suppose if Basic is 5000/- then the contribution of both employeer and employee will on the same amount. It means whatever may be the Basic both employer and employee will submit the contribution of same structure.
On the contribution of 8.33% is question. In case if the basic is 20000 the 8.33% of 15000 will go the Pension (Cap of Rs. 1250) rest 8.33% of 5000 will go the Fund. Its means the cap on pension is of Rs. 1250 the contribution above 1250 goes to the fund.
From India, Raipur
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