Employee provident fund
This query is : Resolved
26 November 2012
1)who decides the amount to be deducted from employee salary for EPF ?
2)IS there any limit to employee contribution ?
2)IS there any limit to employee contribution ?
26 November 2012
Example :
1)Employee Basic salary 60000 .
2)HOw much amount he should contribute to Employee provident fund ?
3)
1)Employee Basic salary 60000 .
2)HOw much amount he should contribute to Employee provident fund ?
3)
26 November 2012
The maximum salary specified in PF Act is Rs. 6,500/-. However, employer and employee may deposit PF on a higher amount.
The rate of PF is 12%.
The rate of PF is 12%.
Message likes :
1 times
26 November 2012
1)the above example were Basic salary is 60000 .
2)how will the employer calculate it ?
2)how will the employer calculate it ?
26 November 2012
In case you decide to pay on the whole basic salary PF amount shall be Rs. 7,200.
Similar contribution shall be made by the employer.
Similar contribution shall be made by the employer.
26 November 2012
Then what about the maximum salary specified under the act is for ?
26 November 2012
The Act has specified maximum salary so that there is not a heavy burden on the employee and the employer.
However, the employer and the employee may choose to pay PF on a higher amount.
However, the employer and the employee may choose to pay PF on a higher amount.
Message likes :
1 times
26 November 2012
My querry is
1)company calculates employee contribution on 6500 .i.e 6500*12%
2)Basic salary of the employee is 60000 .
3)employee does not know about the amount contributed by him to EPF Act .
4)no form has been issued by the employee to the employer to deduct any such amount he wants to be deducted.
5)All the employees contribution to EPF is made on the basic rate 6500*12% irrespective of their salary.
1)company calculates employee contribution on 6500 .i.e 6500*12%
2)Basic salary of the employee is 60000 .
3)employee does not know about the amount contributed by him to EPF Act .
4)no form has been issued by the employee to the employer to deduct any such amount he wants to be deducted.
5)All the employees contribution to EPF is made on the basic rate 6500*12% irrespective of their salary.
26 November 2012
It is the employee Who decides the employee contribution to EPF ,Right ?
26 November 2012
and is it compulsory for the employer to contribute the same amount contributed by employer ?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Transport service POS
- Distinct person & regular person POS
- To Whom the Invoice should be Raise to
- E INVOICE, E-WAY, INVOICE
- INCOME TAX NOTICE QUESTION
- Regarding claiming exemption under section 54ec
- E stamp paper purchase
- Clarification on Inventory
- Capital gain on sale of resident house by non-resident Indian
- Whether to file ITC 03 for downward GST rate revision - Reg.
- GSTR 9- Annual Return for 2024-25
- Input Tax Credit Treatment For Hotel Service Provider.
- Income tax on withdrawal of PF
- HIGHER TDS DEDUCTION ON SALARIED EMPLOYEE IN CASE OF INOPERATIVE PAN
- Query ON belated tds deduction
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
