Provident fund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 January 2014
Dear experts
Is there any minimum and maximum limit for PF contribution by the employer.
Suppose an employee salary is (basic+DA)= 5000/- and adding his other allowances came upto 6500/- and employer has contributed 12% on 6500/-.Now he has paid EPS 8.33% on 6500/- and 3.67% on 6500 to EPF. Is it correct.??
pls its urgent
Is there any minimum and maximum limit for PF contribution by the employer.
Suppose an employee salary is (basic+DA)= 5000/- and adding his other allowances came upto 6500/- and employer has contributed 12% on 6500/-.Now he has paid EPS 8.33% on 6500/- and 3.67% on 6500 to EPF. Is it correct.??
pls its urgent
23 January 2014
Hi
PF is to be calculated @ 12% on Basic + DA only.
There is limit on max amount contribution i.e. in case if Basic + DA is more than 6500 then you can restrict contributions on Rs. 6500/- only.
Thx
PF is to be calculated @ 12% on Basic + DA only.
There is limit on max amount contribution i.e. in case if Basic + DA is more than 6500 then you can restrict contributions on Rs. 6500/- only.
Thx
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 January 2014
That is OK. thanks for ur reply...
I refer the example in the previous query. Employee basic+DA is 5000/-,and aggregate of other allowance such as washing allowances / performance allow come upto 6500/-, then PF contribution should be on 6500/- or 5000/-..?
My 2nd question, if employer contributed on 6500 then on what amount to be transferred to pension scheme.
I refer the example in the previous query. Employee basic+DA is 5000/-,and aggregate of other allowance such as washing allowances / performance allow come upto 6500/-, then PF contribution should be on 6500/- or 5000/-..?
My 2nd question, if employer contributed on 6500 then on what amount to be transferred to pension scheme.
23 January 2014
Hi,
On Basic + DA i.e. Rs. 5k
If employee contributed on 6500, then pension amt to be trfd on same amt too.
Thx
On Basic + DA i.e. Rs. 5k
If employee contributed on 6500, then pension amt to be trfd on same amt too.
Thx
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- TDS Challan Code
- Payment to foreign customer
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- REGARDING SECTION 44AE
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
