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?
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.
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.
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