Basic salary Limit for Provident Fund & Bonus
This query is : Resolved
Anil Chavan
(Querist)
02 April 2008
Hi Sir / Madam
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?
Please reply Me.
Regards
Anil
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?
Please reply Me.
Regards
Anil
Amit Sharma
(Expert)
02 April 2008
Salary includes Basic, DA, Commision, Bonus etc. As much as i know PF is deducted if a person salary is less than 10,000.
SHIV KUMAR GUPTA
(Expert)
02 April 2008
AS FAR AS I KNOW CURRENT LIMIT FOR PF DEDCUTION IS RS.6500/-
S.K,GUPTA
09810467564
S.K,GUPTA
09810467564
Anil Chavan
(Querist)
02 April 2008
Still I am confused.
I need to know that the basic salary limit is changed by Rs 6500/- to Rs 10000/- or not?
Please reply it. It will be helpful for me.
Regards
Anil
I need to know that the basic salary limit is changed by Rs 6500/- to Rs 10000/- or not?
Please reply it. It will be helpful for me.
Regards
Anil
CA. GOPAL SONIKA
(Expert)
03 April 2008
Limit is RS.6500/-
Anil Chavan
(Querist)
03 April 2008
Thanks for reply sir.
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