Pf deduction in case of basic > rs..6500/-
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 March 2014
hi,
if the basic salary of the employee is above Rs.6500/- then is it compulsory to deduct 12% of the basic or is it ok if we deduct only Rs.780/- p.m.(12% of 6500) ?
if the basic salary of the employee is above Rs.6500/- then is it compulsory to deduct 12% of the basic or is it ok if we deduct only Rs.780/- p.m.(12% of 6500) ?
15 March 2014
It will be sufficient compliance with the Act if the PF is deducted on Rs. 6,500/- since the Act stipulates that the maximum salary shall be Rs. 6,500/-
The employer & the employee may agree to contribute on the total basic salary.
The employer & the employee may agree to contribute on the total basic salary.
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