My factory (rope making) has 22 employees in Parbhani (Maharashtra), the actual salary range in my area is 6500-8000.
We are paying 9600 approx as per MRW. My doubt is on which amount PF is to be deducted?
From India, Pune
9We are paying 9600 approx as per MRW. My doubt is on which amount PF is to be deducted?
From India, Pune
PF is to be deducted on the actual salary up to a max. salary of Rs. 15,000/- p. m. Thereafter you have the option to peg the contribution at the max. amount.
It is not correct to base your contribution on the basis of salaries drawn elsewhere and in case you are caught in the process, which is quite easy, you are liable to pay interest, penalty and even criminal prosecution. So it is not a risk worth taking.
From India, Mumbai
It is not correct to base your contribution on the basis of salaries drawn elsewhere and in case you are caught in the process, which is quite easy, you are liable to pay interest, penalty and even criminal prosecution. So it is not a risk worth taking.
From India, Mumbai
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls