31 July 2016
Dear All,
As per the rules of the EPF., till August 2014, the maximum limit of
PF subscription was Rs.780/- considering 12% of the pay Rs.6500/- .
Now, the Govt. has raised the sealing of pay to Rs.15000/- wef, Sept.,
2014 and the employees have to contribute 12% of their pay which
comes to Rs.1800/-, for those who are drawing the pay of Rs.15000/- or
more. The Management has also to contribute the equal amount of the
subscription. Now, the Management has decided to limit the
contribution to Rs.780/- only instead of Rs.1800/- and the balance
difference amount of Rs.1020/- will be recovered from the salary of
the employee in addition to the subscription amount. ie., Rs.1800 +
1020/- = Rs.2820/- will be recovered from the employee salary wef.
01-09-2014. However, the additional 1.5% Administrative charges which
has to be paid to the PF Commissioner in addition to the subscription
+ management contribution will be borne by the Management.
This decision of the Management is communicated to you for your kind
information.
With regards
management
the following is legal or illegal
CAclubindia
