The employers monthly contribution is restricted to a maximum amount of Rs 1,800. Even if the employee’s BASIC+D.A exceeds Rs 15,000, the employer is liable to contribute only Rs 1,800 (12% of Rs 15,000). Can an employee contribute 12% of his actual BASIC + DA ? Is that right ? or Any change in PF deduction rules? please suggest
From India, Chennai
From India, Chennai
Employee can contribute in PF on his/her Basic+DA which is more than 15,000/- per month statutory limit but employer will restrict the contribution up to 15000/- limit. The extra contribution by employee is termed as Voluntarily contribution or VPF.
S K Bandyopadhyay ( WB,HOWRAH)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
337S K Bandyopadhyay ( WB,HOWRAH)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf