Sir/madam, for new employees with salary above15000, whether their PF should be deducted on full salary or on15000.similarly for employer sharewhether their pf payment to be restricted on 15000 or on full salary as our company permits to put PF on full salary.
From India, Hyderabad
1From India, Hyderabad
Hi,
If their salary is Rs. 15000 then the employee falls under Regular PF and 12% of Rs. 15000 will be considered. But if the salary is above Rs. 15000 then they fall under Excess PF, which is a case where an employee can contribute more than 12% towards his monthly PF contribution. Employer share will remain 12% only. According to the law, PF on full salary is not considered.
You need to check with your management for the same.
Refer the link for more https://www.stacowiki.in/en/acts/st-...ident-fund-pf/
From India, Bengaluru
If their salary is Rs. 15000 then the employee falls under Regular PF and 12% of Rs. 15000 will be considered. But if the salary is above Rs. 15000 then they fall under Excess PF, which is a case where an employee can contribute more than 12% towards his monthly PF contribution. Employer share will remain 12% only. According to the law, PF on full salary is not considered.
You need to check with your management for the same.
Refer the link for more https://www.stacowiki.in/en/acts/st-...ident-fund-pf/
From India, Bengaluru
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PF for foreign employees 1.10.08.pdf