Hi, If Basic Salary of someone is more than 6500/- & he goes for PF Deduction, then what will be the % of Employer Contribution.
From India, Mumbai
1From India, Mumbai
The contribution payable by the employer under the Scheme is 12 percent of the wages of an employee. The contribution payable by the employee under the Scheme is equal to the contribution payable by the employer in respect of such employee. [Section 6 & Para 29] Where the monthly pay of an employee exceeds six thousand five hundred rupees the contribution payable by him, and in respect of him by the employer, shall not be under an obligation to pay contribution over and above on monthly pay of six thousand five hundred rupees [Para 26A]
From India, Mumbai
From India, Mumbai
dear if some one basic is more than Rs 6500/- than percentage of contribution will remain 12 from both the side employee as well as employer but you got choices. 1.you can contribute on full basic both the shares. or 2.you can contribute on full employee share if he agree for it and contribute on 6500 as employer share. or 3.you can contribute on 65oo both the shares. tks j s malik
From India, Delhi
From India, Delhi
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Employer-PF-res trict to wages of Rs 6500.pdf