Provident fund
This query is : Resolved
Santosh Mishra
(Querist)
03 February 2013
We have a standard practice to deduct 12% of entire basic salary as EPF from all of our employees and the same amount is matched by the company as Employer PF.
One of our employees, who is getting basic salary INR 100,000 per month and contributing INR 12,000 per month as EPF, now wishes to contribute PF on the maximum basic salary of INR 6, 500 (i.e. INR 780 ) as defined under the Act.
Request you to kindly advise me on following;
1)Is it possible to limit his contribution on 6500 now & when the person has been contributing on higher basic salary previously?
2)If yes, can we follow this practice for some of selected employees if they desire to do so?
One of our employees, who is getting basic salary INR 100,000 per month and contributing INR 12,000 per month as EPF, now wishes to contribute PF on the maximum basic salary of INR 6, 500 (i.e. INR 780 ) as defined under the Act.
Request you to kindly advise me on following;
1)Is it possible to limit his contribution on 6500 now & when the person has been contributing on higher basic salary previously?
2)If yes, can we follow this practice for some of selected employees if they desire to do so?
03 February 2013
Hey,
Yes you can limit contribution on 6500..
Yes, you can select this option for select employees to, however option one exercised can not be changed..
Thanks!!
Yes you can limit contribution on 6500..
Yes, you can select this option for select employees to, however option one exercised can not be changed..
Thanks!!
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