Dear experts?
Please guide for the following queries
1. we planned to implement to all employees PF contribution including basic > 6500 in our private organization, thus let me know the is employer contribution must for the same or else it can be deducted of both contribution from employee salary.
2. If it can possible let me know the deduction slab whether it could be 6500 only or full basic amount
3. also let me know whether it can be notified in the company policy
Rgds,
E. Raja
From India, Chennai
Please guide for the following queries
1. we planned to implement to all employees PF contribution including basic > 6500 in our private organization, thus let me know the is employer contribution must for the same or else it can be deducted of both contribution from employee salary.
2. If it can possible let me know the deduction slab whether it could be 6500 only or full basic amount
3. also let me know whether it can be notified in the company policy
Rgds,
E. Raja
From India, Chennai
Mr Raja Yes.It is possible.Employer also has to contribute.Employer cannot deduct his contribution from employee’s salary. Varghese Mathew 09961266966
From India, Thiruvananthapuram
912From India, Thiruvananthapuram
Further to what Mr. Varghese Mathew has replied, please check the revised cap of PF
From India, Ahmadabad
From India, Ahmadabad
-----------
Dear Raja,
Pl.see the attached notes. It will give you relevant information.
1) & 2) As you know 12% of Basic + DA will have to be recovered from the salary of employee treating a maximum salary (basic + DA) as Rs.6500/-(for those willing not to limit it upto Rs.6500/- say 10,000, 15000 etc., you can deduct @ 12% but no compulsion, but upto 6500/- it is compulsory. Employer's share also limited only upto 6500/- Employer need not contribute for more when salary is more than 6500/- For example salary is 10,000 employer has to contribute only @ 12% on 6500/- here also if employer is willing they can contribute @ 12% on Rs.10000/- but no compulsion on employer to contribute more. In any case Employer's contribution should not be recovered from employee's salary. It is illegal if they recover from employee's salary and if they do so it's punishable offence.
3) It can be notified in the co.policy. But ensure that your policy notifies the minimum of what is stated in the EPF Act. In other words employer's policy can provide for more or better benefits.
From India, Bangalore
Dear Raja,
Pl.see the attached notes. It will give you relevant information.
1) & 2) As you know 12% of Basic + DA will have to be recovered from the salary of employee treating a maximum salary (basic + DA) as Rs.6500/-(for those willing not to limit it upto Rs.6500/- say 10,000, 15000 etc., you can deduct @ 12% but no compulsion, but upto 6500/- it is compulsory. Employer's share also limited only upto 6500/- Employer need not contribute for more when salary is more than 6500/- For example salary is 10,000 employer has to contribute only @ 12% on 6500/- here also if employer is willing they can contribute @ 12% on Rs.10000/- but no compulsion on employer to contribute more. In any case Employer's contribution should not be recovered from employee's salary. It is illegal if they recover from employee's salary and if they do so it's punishable offence.
3) It can be notified in the co.policy. But ensure that your policy notifies the minimum of what is stated in the EPF Act. In other words employer's policy can provide for more or better benefits.
From India, Bangalore
Dear Raja,
.
1) & 2) As per PF Miscelleanous act as per 12% of (Basic + DA) will have to be recovered from the salary of employee treating a maximum salary (basic + DA) as Rs.15000/-(for those willing not to limit it upto Rs.15000/- say 200,00, 30000 etc., you can deduct @ 12% but no compulsion, but upto 15000/- it is compulsory. Employer's share also limited only upto 15000/- Employer need not contribute for more when salary is more than 15000/- For example salary is 20,000 employer has to contribute only @ 12% on 15000/- ( New Circular dated 14/07/2014) here also if employer is willing they can contribute @ 12% on Rs.20000/- but no compulsion
With regards,
Balamurugan.L
9488829216
Pondicherry
From India, Madras
.
1) & 2) As per PF Miscelleanous act as per 12% of (Basic + DA) will have to be recovered from the salary of employee treating a maximum salary (basic + DA) as Rs.15000/-(for those willing not to limit it upto Rs.15000/- say 200,00, 30000 etc., you can deduct @ 12% but no compulsion, but upto 15000/- it is compulsory. Employer's share also limited only upto 15000/- Employer need not contribute for more when salary is more than 15000/- For example salary is 20,000 employer has to contribute only @ 12% on 15000/- ( New Circular dated 14/07/2014) here also if employer is willing they can contribute @ 12% on Rs.20000/- but no compulsion
With regards,
Balamurugan.L
9488829216
Pondicherry
From India, Madras
Dear friends,
This is a news item:
" Finance bill 2014 Final was presented by Finance Minister Shri Arun Jaitley on 10th July 2014. The bill got approval of Lok Sabha on25th July 2014 with some amendments. Now Rajya Sabha has cleared the Finance Bill 2014 on 31st July 2014. Finance Bill will comes into effect after President Approves it. So now bill will go to Honorable president for his approval."
- See more at: Rajya Sabha clears Finance Bill 2014
Let us await.
From India, Bangalore
This is a news item:
" Finance bill 2014 Final was presented by Finance Minister Shri Arun Jaitley on 10th July 2014. The bill got approval of Lok Sabha on25th July 2014 with some amendments. Now Rajya Sabha has cleared the Finance Bill 2014 on 31st July 2014. Finance Bill will comes into effect after President Approves it. So now bill will go to Honorable president for his approval."
- See more at: Rajya Sabha clears Finance Bill 2014
Let us await.
From India, Bangalore
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Basic 4 pf.pdf