Sir,
I want to know that if an organization pays provident fund on ceiling limit basis of Rs 6500, than in such case if an employee has worked for part month (say 20 days) and earned wages for PF equal to Rs 6000, than will the limit of 6500Rs be revised on pro rata basis for 20 days for comparison or will remain same?
From India, Delhi
I want to know that if an organization pays provident fund on ceiling limit basis of Rs 6500, than in such case if an employee has worked for part month (say 20 days) and earned wages for PF equal to Rs 6000, than will the limit of 6500Rs be revised on pro rata basis for 20 days for comparison or will remain same?
From India, Delhi
Ceiling limit should not be confused & utilized on prorata basis. Wages are to be calculted on pro rata basis & if earned wages are above ceiling limit then ceiling limit may be applied.
Regards
Bhavik Chheda
9833009299
Chheda Consultancy Services : Consultants for Payroll Processing, Labour Laws, Provident Fund, ESIC, Professional Tax, MLWf, Shop Licence, etc in Mumbai, Maharashtra
From India, Pune
6Regards
Bhavik Chheda
9833009299
Chheda Consultancy Services : Consultants for Payroll Processing, Labour Laws, Provident Fund, ESIC, Professional Tax, MLWf, Shop Licence, etc in Mumbai, Maharashtra
From India, Pune
The Ceiling is Rs.6500/- salary earned during the month. It the earned salary is less than Rs.6500/-, the PF deduction will be restricted to the lesser salary.
From India, Hyderabad
From India, Hyderabad
Sir/Mam,
My question is very simple.
If an organization contributes PF on ceiling limit basis, than if an employee has worked for less than one month say 10 days and earned Rs 6200 for these days, than whether for comparison the ceiling limit will be revised on pro-rata basis i.e. 2096 (6500/31*10) for comparison and PF to be deducted on 2096 (being revised ceiling limit)
or
there will be no revision in ceiling limit and PF to be deducted on 6200 Rs being lower of 6500 or 6200?
Please answer in reference to this example
From India, Delhi
My question is very simple.
If an organization contributes PF on ceiling limit basis, than if an employee has worked for less than one month say 10 days and earned Rs 6200 for these days, than whether for comparison the ceiling limit will be revised on pro-rata basis i.e. 2096 (6500/31*10) for comparison and PF to be deducted on 2096 (being revised ceiling limit)
or
there will be no revision in ceiling limit and PF to be deducted on 6200 Rs being lower of 6500 or 6200?
Please answer in reference to this example
From India, Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
EPS - Wage Limit increase_01.09. 2014.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx