I have some cofusion regarding the limit of basic salary (+DA) while deducting the PF from employee's salary And at the time of bonus payment. Somebody told me that if employee's salary + DA is less than Rs 10000/- then deduction of PF & payment of bonus (bonus at least 8.33% of basic salary) is mandatory or if basic salary is more than Rs 10000/- then it is totally depends upon co. I want to know that, the limit of basic salary is changed by Rs 6500/- to Rs 10000/- or not? And this limit is also applicable for bonus or not?
CAclubindia
