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New providenet fund

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 November 2014 Dear Sir

The new EPF rule (EPF Limit increased to Rs. 15000 from Rs. 6500 wef 01.09.2014.Our firm have some employees drawn salary as Rs.10,000/- and some of them More than 15,000/-per month. In my doubt is how to calculate the gross salary of Rs.10,000/- drawn employees PF? Is it calculate as Rs.15000/-
Please reply any one.

Gives you an advance Thanks for your reply
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
22 November 2014 Calculate using the simple formula - Actual or 15,000 whichever is LESS.
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 November 2014 Thank you
One more thing If the Gross salary is Rs.13,000/- then PF calculate on Rs.13,000/- right?

Thanks in adavance
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
24 November 2014 Yes correct. PF will be calculated on Rs. 13,000/-
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Querist : Anonymous

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Querist : Anonymous (Querist)
24 November 2014 Thank You Mr.Siddhartha....
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
24 November 2014 You are welcome.

If you feel that I have satisfactorily answered your query then please nominate me for the Most Effective Expert.
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Querist : Anonymous

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Querist : Anonymous (Querist)
24 November 2014 Yes
Sure....
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