Dear All, Can anyone tell me about PF deduction if basic is above 15000 then it is necessary to do pf deduction or not ? is it exempted ?
From India, Pune
From India, Pune
Deducting 12% on 15000 is enough if the basic is >=15000
If you have employees' whose basic salary is <15000; you should follow the above said.
If all of your employees or most of your employees are >15000 basic salaried then there is a consent for not-opting to PF deduction which you may collect and keep it for records and can be produced at the time of inspection.
Strongly suggest to go for first line.
From India, Chennai
22If you have employees' whose basic salary is <15000; you should follow the above said.
If all of your employees or most of your employees are >15000 basic salaried then there is a consent for not-opting to PF deduction which you may collect and keep it for records and can be produced at the time of inspection.
Strongly suggest to go for first line.
From India, Chennai
Hi,
"PF deduction if basic is above 15000 then it is necessary to do pf deduction or not : :- If the employee is already a contributing member to PF then PF should be deducted even though Basic is above 15000/- but PF can be limited @ Rs.15,000/-. However if the Member is already not a contributing member to PF then no need for PF deduction. But collect EPF Form 11 duly signed by the employee.
From India, Madras
"PF deduction if basic is above 15000 then it is necessary to do pf deduction or not : :- If the employee is already a contributing member to PF then PF should be deducted even though Basic is above 15000/- but PF can be limited @ Rs.15,000/-. However if the Member is already not a contributing member to PF then no need for PF deduction. But collect EPF Form 11 duly signed by the employee.
From India, Madras
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Basic 4 pf.pdf