Hello, I need clarification on PF Wages limit, which is 15000/- per month at present.
If member Basic wages + DA is more then 15,000/- . eg 16,000/- per month and in the month of November month member get 29 days wages in the month of November month. Here Basic wages earned # 16,000/30*29 days = 15,467/- . but PF wages ceiling is 15,000/- per month and we prepare PF wages according PF Wages ceiling of 15,000/30*29 =14,500/ *12% = 1,740/- as showing portal also .
Here some one advised to pay contribution on 15,000/- in above cases.
My query is if PF Wages caped upto 15 k then why we need to look 16,000/- Basic wages + DA , which is more then 15k as EPFO Said.
Please suggest .
Regards
Dwarika
From India, New Delhi
4If member Basic wages + DA is more then 15,000/- . eg 16,000/- per month and in the month of November month member get 29 days wages in the month of November month. Here Basic wages earned # 16,000/30*29 days = 15,467/- . but PF wages ceiling is 15,000/- per month and we prepare PF wages according PF Wages ceiling of 15,000/30*29 =14,500/ *12% = 1,740/- as showing portal also .
Here some one advised to pay contribution on 15,000/- in above cases.
My query is if PF Wages caped upto 15 k then why we need to look 16,000/- Basic wages + DA , which is more then 15k as EPFO Said.
Please suggest .
Regards
Dwarika
From India, New Delhi
Hi, Can you please specify whether the employee is on LWP (Loss without Pay) for 1 day. if that is the case ,there will be no issue for applying the formula15000/30*29 . Regards Kiran raj
From India, Mumbai
From India, Mumbai
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PF- on minimum wages-EPF appellate tribunal-Award against Deptt..pdf