Dear All,
The government notification related to EPF - Enhancement of wage ceiling has been published. Please find attached a copy of the same. This shall come into force on and from the 1st day of September 2014.
From India, Chennai
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201The government notification related to EPF - Enhancement of wage ceiling has been published. Please find attached a copy of the same. This shall come into force on and from the 1st day of September 2014.
From India, Chennai
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In case, do we need to revise all the employees' salaries? My doubt is, as of now, we go ahead with restricted wages of 780/- deduction for those whose basic is more than 6500/-, and if less than the ceiling, we calculate 12% on basic.
Let me correct, now we have to take the ceiling as 15K as the base. If more than that, do we need to fix the standard deduction of PF as 1800 (12% on 15K) and less than that depends on basic * 12%.
Please clarify.
From India, Chennai
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Let me correct, now we have to take the ceiling as 15K as the base. If more than that, do we need to fix the standard deduction of PF as 1800 (12% on 15K) and less than that depends on basic * 12%.
Please clarify.
From India, Chennai
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Dear Sir,
Please clarify that under the EPF Act, the employer cannot bring down the contributions from the Basic Salary (as defined in the act) of Rs. One lakh p.m. to Rs. 15,000 as per the provision of the Act.
The organization currently deducts and contributes based on the Basic Salary regardless of the amount (Rs. 50,000 p.m. to 1.50 lakh p.m.). It now intends to deduct and contribute only up to Rs. 15,000 as stipulated in the act for all employees.
Is it permissible under the Act to do so? Please clarify.
Thanks & Regards
From India, Delhi
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Please clarify that under the EPF Act, the employer cannot bring down the contributions from the Basic Salary (as defined in the act) of Rs. One lakh p.m. to Rs. 15,000 as per the provision of the Act.
The organization currently deducts and contributes based on the Basic Salary regardless of the amount (Rs. 50,000 p.m. to 1.50 lakh p.m.). It now intends to deduct and contribute only up to Rs. 15,000 as stipulated in the act for all employees.
Is it permissible under the Act to do so? Please clarify.
Thanks & Regards
From India, Delhi
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Labour Law Update.pdf