If I am paying PF contribution irrespective of the employee's qualifying salary, let's say his basic is Rs 40,000. He pays 12%, i.e., Rs 4,800, and the employer is also paying Rs 4,800 to his EPF account. Can I stop this practice and bring down the employer's contribution to the qualifying statutory amount at any time, even though the practice has been in place for several years?
From India, Nagpur
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From India, Nagpur
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Dear Suresh,
You can restrict employer contribution to the present EPF wage ceiling, i.e., Rs15,000/- per month. As and when the EPF wage ceiling goes up, you have to comply with the same. You can restrict it with a prospective date.
From India, New Delhi
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631You can restrict employer contribution to the present EPF wage ceiling, i.e., Rs15,000/- per month. As and when the EPF wage ceiling goes up, you have to comply with the same. You can restrict it with a prospective date.
From India, New Delhi
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Sir I wish to know that if I was paying more than statutory requirement. Can I now reduce it to 12% of 15,000 ,the limit as of now Regards Suresh
From India, Nagpur
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From India, Nagpur
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Dear Suresh,
With effect from January 2018, you can restrict your EPF contribution to the present EPF wage ceiling, i.e., Rs 15,000/- per month (Rs 1,800/- contribution). This will be in force until the EPF wage ceiling is increased.
From India, New Delhi
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With effect from January 2018, you can restrict your EPF contribution to the present EPF wage ceiling, i.e., Rs 15,000/- per month (Rs 1,800/- contribution). This will be in force until the EPF wage ceiling is increased.
From India, New Delhi
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