Pf calculation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 May 2014
Dear Experts,
I want to know that, A private organisation covered under the Provident Fund Act,1952, have right to not calculate the PF contribution on new joined employees having basic salary more than 6500/-p.m.
and can also freeze the contribution limit upto 12% of 6500/- i.e. 780.00, if once basic salary raised from 6500/-.
Deepti Shukla
I want to know that, A private organisation covered under the Provident Fund Act,1952, have right to not calculate the PF contribution on new joined employees having basic salary more than 6500/-p.m.
and can also freeze the contribution limit upto 12% of 6500/- i.e. 780.00, if once basic salary raised from 6500/-.
Deepti Shukla
Nikhil Kaushik
(Expert)
09 May 2014
you need to calculate the PF once the basic salary (as per PF act exceeds Rs 6000 per month. it is not freezed at this level and shall continue to grow with increase in the basic salary.
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