PF-Maximul limit
This query is : Resolved
Kamal Bisht
(Querist)
01 June 2009
What is the maximum amount on which PF is to be deducted?
Suppose if a person getiing basic salary 1lac, is emplyoer liable to deduct/contribute Rs. 24000/-toward pf amount(12000-employee+12000/-employer's contribution)?
Suppose if a person getiing basic salary 1lac, is emplyoer liable to deduct/contribute Rs. 24000/-toward pf amount(12000-employee+12000/-employer's contribution)?
Manmohan ACA, CS
(Expert)
01 June 2009
There is no maximum limit.
However there is minimum limit of 12% and 10%.
Employee can pay more then the limit but can not force employer to pay hoigher then it
However there is minimum limit of 12% and 10%.
Employee can pay more then the limit but can not force employer to pay hoigher then it
Kamal Bisht
(Querist)
01 June 2009
I am asking, if an employee is getting 10 lac basic salary, can emplyoer deduct 12 % of that 10lac or there is certain limit of amount on excess which PF can't be deducted/credited to govt.?
Manmohan ACA, CS
(Expert)
05 June 2009
No limit is on amount . the limit is percentagewise not amountwise
CA Nitin Wadhwani
(Expert)
05 June 2009
Yes.
The ceiling limit is 6500/-.
The ceiling limit is 6500/-.
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