Suppose I get Gross salary of Rs. 10000/- p.m. My Basic is 4500 /- p.m.
My pf Contribution is 4500 @ 12 % Rs 540/- p.m. same employer will contribute in my Pf account.
Then what will be the limit of where I can deposit my VPF Can I go upto 100% of my basic.
Please give me reference in that as per PF act.
Regards
vivek
9819387573
From India, Delhi
My pf Contribution is 4500 @ 12 % Rs 540/- p.m. same employer will contribute in my Pf account.
Then what will be the limit of where I can deposit my VPF Can I go upto 100% of my basic.
Please give me reference in that as per PF act.
Regards
vivek
9819387573
From India, Delhi
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.A joint declaration should be submitted to the Concerned RPFO.
From India, Madras
5From India, Madras
Hi all,
Our company senior manager desings getting salary 36000, but he pay pf contribution only for Rs.6500/ @12%,Rs.780/- then he is pay additional pay of vpf Rs.6000/-, Is it raight please send your replay quickly.
The PF department pepole says only that person pay Rs.6500/- including vpf
thanks
maheswaran
powergear
From India, Madras
Our company senior manager desings getting salary 36000, but he pay pf contribution only for Rs.6500/ @12%,Rs.780/- then he is pay additional pay of vpf Rs.6000/-, Is it raight please send your replay quickly.
The PF department pepole says only that person pay Rs.6500/- including vpf
thanks
maheswaran
powergear
From India, Madras
Dear mahes,
I am not clear about yr actual query. As per PF act, the authority's purview is whether we are deducting pf Contribution upto Rs.6500 or not. Over and above Rs.6500, then it is voluntary contribution. For that you need to get Joint Declaration.
S Rajasekarn
From India, Madras
I am not clear about yr actual query. As per PF act, the authority's purview is whether we are deducting pf Contribution upto Rs.6500 or not. Over and above Rs.6500, then it is voluntary contribution. For that you need to get Joint Declaration.
S Rajasekarn
From India, Madras
Voluntary Provident Fund (VPF): VPF is a safe option wherein you can contribute more than the PF ceiling of 12% that has been mandated by the government. This additional amount enjoys all the benefits of PF except that the employer is not liable to contribute any extra amount apart from 12%. An added advantage is that the interest rate is equal to the interest rate of PF and the withdrawal is tax free. Please note that the maximum contribution towards VPF is 100% of your Basic.
From India, Mumbai
From India, Mumbai
Dear Sachin
One of our employee want to deposit in VPF. At present he is contributing 12% of his full basic Rs.158334.00 i.e. Rs.19000.00 and employer share is also 19000.00. His total 24% deposits in pf account and there is no eps contribution as he has completed 58 years. Now he want to deposit upto the maximum limit (100% of basic)he can deposit in VPF. What is the procedure to deposit his contribution in VPF. And one more thing he is a retired from EPS so can he deposit in VPF or not. please help me.
From India, Calcutta
One of our employee want to deposit in VPF. At present he is contributing 12% of his full basic Rs.158334.00 i.e. Rs.19000.00 and employer share is also 19000.00. His total 24% deposits in pf account and there is no eps contribution as he has completed 58 years. Now he want to deposit upto the maximum limit (100% of basic)he can deposit in VPF. What is the procedure to deposit his contribution in VPF. And one more thing he is a retired from EPS so can he deposit in VPF or not. please help me.
From India, Calcutta
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