Povident fund.

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 November 2012 Hello Sir,

Can you please guide me that what is the percentage deduction of provident fund for employee & employer as well (because i heard that there are 3 alternative methods for it) secondly what is the procedure for the registration under PF ?
Thanks.

27 November 2012 it is 12% of Basic & DA which shall be contributed by both.

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 November 2012 Thank you, Sir.

Also, Can you please give me some clarification on the calculation procedure.
I had come across an article where it was mentioned that the PF is Rs. 780 or 12% of Basic + DA whichever is higher. If an employee's PF contribution (i.e. 12% of Basic + DA) results to an ammount less than Rs. 780 then what will be the contribution? Will it be the same amount or will it be Rs. 780.

27 November 2012 Generally the person getting salary over and above Rs. 6500 per month is not required to contribute for PF on such excess amount.
Accordingly, it becomes like Rs. 780 or 12% of salary whichever is low as per statute.

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 November 2012 Thank you Amit Sir.

27 November 2012 You can use Thanks Tab for conveying thanks.


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