Hello All,
Can anyone help me in the following case.
My friend has joined on 3rd party payroll. And in his offer letter the Annual Basic is shown as 420000/- and PF deduction is just 5% on the basic.
When asked with HR, they have given the following slab.
IF basic is
below 30K then PF deduction would be 12%
Above 30K but below 40K then PF deduction would be 7-10%
and above 40 K then Pf deduction is 5%
Request you all to please clarify on this.
Thanks and Regards
Can anyone help me in the following case.
My friend has joined on 3rd party payroll. And in his offer letter the Annual Basic is shown as 420000/- and PF deduction is just 5% on the basic.
When asked with HR, they have given the following slab.
IF basic is
below 30K then PF deduction would be 12%
Above 30K but below 40K then PF deduction would be 7-10%
and above 40 K then Pf deduction is 5%
Request you all to please clarify on this.
Thanks and Regards
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