Can employees contribution into PF be more than 12%?
This query is : Resolved
Yash Kumar Sethia
(Querist)
07 January 2009
Respected Sir/Madam
I want to know whether it is possible to deduct employees share in PF more than 12%? If it is possible than what will be Employers contribution and other entries Regarding A/c 1,A/c 2, A/c 10,A/c 21 and A/c 22.Shall employer share remain 8.33% please help
I want to know whether it is possible to deduct employees share in PF more than 12%? If it is possible than what will be Employers contribution and other entries Regarding A/c 1,A/c 2, A/c 10,A/c 21 and A/c 22.Shall employer share remain 8.33% please help
Pooja Chopda
(Expert)
07 January 2009
yes can employee can get his PF deducted for more than 12%. employer should get written consent from employee.
employer can contribute higher than 12%-though it is not compulsory. Also, employer contribution over & above 12% & intt on it will be taxed for employee in the relevant previous year.
employer can contribute higher than 12%-though it is not compulsory. Also, employer contribution over & above 12% & intt on it will be taxed for employee in the relevant previous year.
Yash Kumar Sethia
(Querist)
07 January 2009
Respected Sir/Madam
I want to know whether it is possible to deduct employees share in PF more than 12%? If it is possible than what will be Employers contribution and other entries Regarding A/c 1,A/c 2, A/c 10,A/c 21 and A/c 22.Shall employer share remain 8.33% please help . If employees contribution is 15% what will be employers contribution?
please help
I want to know whether it is possible to deduct employees share in PF more than 12%? If it is possible than what will be Employers contribution and other entries Regarding A/c 1,A/c 2, A/c 10,A/c 21 and A/c 22.Shall employer share remain 8.33% please help . If employees contribution is 15% what will be employers contribution?
please help
07 January 2009
Statutorily PF should be deducted @12% minimum. It can be more on discretion of employee.
14 March 2012
An employee can choose to contribute in excess of 12% to his PF account.
However, it is not mandatory for the employer to match the contribution.
However, it is not mandatory for the employer to match the contribution.
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