28 April 2011
1. contribution towards PF by employer over & above 12% of salary(please understand it is the wish of employer and not employee. Here wish of employee not required because no employee will oppose extra contribution by employer. Employee wish is needed for extra contribution to PF by employee.)
2. Employee can Contribute more than 12% but he will get deduction subject to maximum of Rs 1 Lac.
Employers contribution is taxable in excess of 12% salary (i.e if the employer contributes more than 12% of salary then it will be taxable)
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