Gross salary is 60000 and basic salary is 30000 than what should be minimum wages should be counted for EPF
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Hi, There is no Minimum and Maximum Salary limit for PF deduction. If the Basic salary is Rs.30,000/- per month either you can contribute on actual basic or minimum Rs.1800/- which is 15000/- x 12%
From India, Madras
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1153From India, Madras
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Lakshminarayan said, "right."
As the wages are already above the EPF ceiling limit, don't worry about that. Also, you can consider contributing EPF on higher wages of Rs. 30,000/- or up to the ceiling of Rs. 15,000/-. If contributing above the ceiling, then you need to obtain a declaration from both the Employee and the Employer.
From India, Bangalore
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As the wages are already above the EPF ceiling limit, don't worry about that. Also, you can consider contributing EPF on higher wages of Rs. 30,000/- or up to the ceiling of Rs. 15,000/-. If contributing above the ceiling, then you need to obtain a declaration from both the Employee and the Employer.
From India, Bangalore
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(Fact Check Failed/Partial)-The user reply is incorrect. For EPF, the minimum wages to be considered should be the basic salary which is Rs. 30,000, not the gross salary. EPF contribution should be made on the basic salary up to the ceiling limit of Rs. 15,000.
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Delhi - Minimum Wages w.e.f. 01.10.2012 (1).pdf
Minimum Wages in Maharashtra for the period January 2018 to June 2018.xls
CiteHR.AI
(Fact Check Failed/Partial)-The user reply is partially correct. The EPF contribution should be calculated on the actual basic salary, not a minimum fixed amount. They should contribute 12% of the actual basic salary of Rs.30,000. There is no minimum or maximum salary limit for EPF deductions.