Dear Binu,
It is still Rs.6500 only and while coming to the limit of employer it can be more than Rs.780 also, i mean to say its not must that you need to limit it to Rs.780 i.e basic+DA of Rs.6500 only. You can see the explanation of this given in first page by Rajeev and me. Once again i would like to mention basic+DA limit of PF is still Rs.6500 only.......
Regards
Amith R.
From India, Bangalore
16It is still Rs.6500 only and while coming to the limit of employer it can be more than Rs.780 also, i mean to say its not must that you need to limit it to Rs.780 i.e basic+DA of Rs.6500 only. You can see the explanation of this given in first page by Rajeev and me. Once again i would like to mention basic+DA limit of PF is still Rs.6500 only.......
Regards
Amith R.
From India, Bangalore
Dear Binu,
In case an employees basic+DA is Rs 10000 and your company is deducting PF on exact basic+DA i.e Rs 10000 he can never come back to Rs 6500 and pay only for that. In case he is paying PF on only Rs 6500 though your basic+DA is Rs 10000 in such a case he can limit your PF to Rs 780 only. Hope it is clear for you now, if not do get back to me.
Regards
Amith R.
From India, Bangalore
In case an employees basic+DA is Rs 10000 and your company is deducting PF on exact basic+DA i.e Rs 10000 he can never come back to Rs 6500 and pay only for that. In case he is paying PF on only Rs 6500 though your basic+DA is Rs 10000 in such a case he can limit your PF to Rs 780 only. Hope it is clear for you now, if not do get back to me.
Regards
Amith R.
From India, Bangalore
Dear Binums
Please go through the link http://epfindia.nic.in#top
and read point 24 for your query--
As per the Act, the member has to contribute at the rate of 10% or 12% of his basic pay, D.A. & retaining allowance if any. In case the member wants to contribute more than this, voluntarily he can do so at any rate he desires. i.e. upto 100% of basic and D.A. But the employer is not bound to contribute at the enhanced rate.
From India, Kota
Please go through the link http://epfindia.nic.in#top
and read point 24 for your query--
As per the Act, the member has to contribute at the rate of 10% or 12% of his basic pay, D.A. & retaining allowance if any. In case the member wants to contribute more than this, voluntarily he can do so at any rate he desires. i.e. upto 100% of basic and D.A. But the employer is not bound to contribute at the enhanced rate.
From India, Kota
Both the employee and employer have to contribute 12%. However, employee can contribute higher than 12% as voluntary contribution. But the employer's contribution will certainly be limited to 12% (8.33% to Pension Fund and 3.67% to Provident Fund)
There is no limit to the contribution (Voluntary) by an employee since such contributions will be purely a saving on the part of employees.
From India, Kannur
There is no limit to the contribution (Voluntary) by an employee since such contributions will be purely a saving on the part of employees.
From India, Kannur
Problem is nothing, thereis nothis like problem. Confused look at the attached file for confirmation. Regards Debajit Roy
From India, Mumbai
From India, Mumbai
Hi all, I want to know when PF becomes optional?? if someones basic is more than 10k than also he is eligibale for PF??
From India, Vadodara
From India, Vadodara
Dear Binums,
There is limit as per pf act i.e Rs. 6500/- per month . The employer can deduct @12% only not more than that.
But
The employee should not be member of Provident Fund any where in india
He has to decelare in the form no. 11 of PF act
Regards
Khushbu
From India, Delhi
There is limit as per pf act i.e Rs. 6500/- per month . The employer can deduct @12% only not more than that.
But
The employee should not be member of Provident Fund any where in india
He has to decelare in the form no. 11 of PF act
Regards
Khushbu
From India, Delhi
I have a question :
- My company's salary break up :
Earnings & Deductions
Salary Breakup
Earnings
Basic12000
HRA6000
Conveyance800
Medical Allowance1250
P Fund 780
Special Allowance1500
Other allowance2670
Gross Salary25000
Deductions
Professional Tax** 200
Income Tax*0
P Fund -1633
Medclaim0
Gratuity - 500
Total Deductions2333
Net Salary Per Month 22667
Per Annum Salary 300000
please let me know, if its right..
i think pf should be be in earnings...
please reply...
From India, Mumbai
- My company's salary break up :
Earnings & Deductions
Salary Breakup
Earnings
Basic12000
HRA6000
Conveyance800
Medical Allowance1250
P Fund 780
Special Allowance1500
Other allowance2670
Gross Salary25000
Deductions
Professional Tax** 200
Income Tax*0
P Fund -1633
Medclaim0
Gratuity - 500
Total Deductions2333
Net Salary Per Month 22667
Per Annum Salary 300000
please let me know, if its right..
i think pf should be be in earnings...
please reply...
From India, Mumbai
We have a option to limit the PF of employees.
We can limit the PF at no tless than Rs. 780=00.
For employees less than Rs.6500 basic P.F. shopuld be full upto 12%
For employees with more than Rs. 6500 basic P.F. can be limited to Rs. 780=00.
Please feel tfreet o contact me for any other details on
From India, Hyderabad
We can limit the PF at no tless than Rs. 780=00.
For employees less than Rs.6500 basic P.F. shopuld be full upto 12%
For employees with more than Rs. 6500 basic P.F. can be limited to Rs. 780=00.
Please feel tfreet o contact me for any other details on
From India, Hyderabad
Dear Vaishali,
In such a case you are eligible for PF but it becomes optional if you want you can go for PF and your employer can give PF on exact basic or on Rs 6500 basic only. Hope it is clear for you now. You can visit www.epfindia.com for more details.
Dear Madhu,
As you have mentioned that we dont have percentage restriction that would also mean the employee cannot choose to go for very higher percentage, so what do you say about this...........
Regards
Amith R.
From India, Bangalore
In such a case you are eligible for PF but it becomes optional if you want you can go for PF and your employer can give PF on exact basic or on Rs 6500 basic only. Hope it is clear for you now. You can visit www.epfindia.com for more details.
Dear Madhu,
As you have mentioned that we dont have percentage restriction that would also mean the employee cannot choose to go for very higher percentage, so what do you say about this...........
Regards
Amith R.
From India, Bangalore
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