Basic salary percentage
This query is : Resolved
09 August 2014
Does any law, specially PF Act, prescribe what should be the basic salary component percentage of Total gross salary?
09 August 2014
Not defined in any law. For Government organisations Pay Commission fixes salary structure.
Message likes :
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09 August 2014
Dear Sir,
Please refer below article:
https://www.financialexpress.com/news/epfo-to-inspect-firms-deducting-pf-on-less-than-50-of-wage/1277517
Why is PF administration inspecting firms where the basic pay ( the amount on which PF is deductible)is less than 50% of total pay ? The PF Act itself is silent on this matter.
Please refer below article:
https://www.financialexpress.com/news/epfo-to-inspect-firms-deducting-pf-on-less-than-50-of-wage/1277517
Why is PF administration inspecting firms where the basic pay ( the amount on which PF is deductible)is less than 50% of total pay ? The PF Act itself is silent on this matter.
09 August 2014
Yes Its true act is silent on this. I dont think even PF Authority can dictate anything on this without any rule. It is in the hand of organization to set the salary structure.
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