Pf>>> provident fund

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2012 Dear All,

The employee provident fund act,1952 says that a employee earning upto 6,500 p.m. is to be member of provident fund mandatorily.

And it also says that a person earning above 6,5000 can be (i.e its optional) for him
pls correct if i am wrong

secondly the act says that if a person is earning more than 6,500 p.m. then his share shall be computed as if his earning is 6,500 only.

but practically employess and employeers are paying on their actual salary how this possible?

pls explain?

Guest

Guest (Expert)

10 July 2012 The general practice is that employees contribution is paid on his gross salary, and employers contribution is paid on salary upto Rs. 6500.

For ex. if a person is getting 10000 Rs. as salary, then employees contribution will be on 10000 and employers contribution will be on 6500 Rs.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

R M Shekhaliya

Amit Goyal

SHRI HARIRAO

Frank

Pushkar Nagda

Subscribe Now

Pf>>> provident fund

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANCY

Accountant

Senior Executive

GST CONSULTANT

Manager- Finance and Compliance