Employers contribution to pf.
This query is : Resolved
13 May 2013
Dear Experts,
I am presently auditing a software concern where the employer is contributing to the PF in excess of 12% ( in fact they are contributing on the total earned basic salary at 12% without considering the limit of 6500) but when it comes to PF administration charges they are contributing the 1.1% on the earned basic(total) and .51% only on 6500 , i will be grateful for clarifying that whether the practice of the client is in line with provisions the act or not.?
I am presently auditing a software concern where the employer is contributing to the PF in excess of 12% ( in fact they are contributing on the total earned basic salary at 12% without considering the limit of 6500) but when it comes to PF administration charges they are contributing the 1.1% on the earned basic(total) and .51% only on 6500 , i will be grateful for clarifying that whether the practice of the client is in line with provisions the act or not.?
CMA Ramesh Krishnan
(Expert)
05 September 2013
Yes. it is correct practice only. it is normal practice of most of the employers
CMA Ramesh Krishnan
(Expert)
05 September 2013
Yes. it is correct practice only. it is normal practice of most of the employers
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