Provident Fund Deduction
This query is : Resolved
11 November 2009
My understanding is that if the basic salary + DA is less than Rs 6500 per month, PF has to be compulsorily deducted and remitted. Is 12% deduction mandatory or can the company deduct 10%?
If the Basic salary + DA is over Rs 6,500, is it optional for the company to go for PF? If yes, does the company have the option to deduct PF at 12% on Rs 6,500, i.e. restrict the deduction to the limit of Rs 6,500 and remit Rs 780 on a monthly basis?
Pls clarify
If the Basic salary + DA is over Rs 6,500, is it optional for the company to go for PF? If yes, does the company have the option to deduct PF at 12% on Rs 6,500, i.e. restrict the deduction to the limit of Rs 6,500 and remit Rs 780 on a monthly basis?
Pls clarify
11 November 2009
12% DEDUCTION MANDATORY.IF YOU GO OPTIONAL THEN YOU WILL DEDUCT PF ON DRAWING BASIC SALARY.
12 November 2009
Thanks.
Can you also reply to the last part of my query on whether if the basic salary plus DA is over Rs 6,500, can the company restrict the PF to 12% of Rs 6,500 or should it be 12% on the actual salary of say Rs 8000?
Can you also reply to the last part of my query on whether if the basic salary plus DA is over Rs 6,500, can the company restrict the PF to 12% of Rs 6,500 or should it be 12% on the actual salary of say Rs 8000?
12 November 2009
need to deduct on actual salary
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- TDS on property - Form 141 query
- Type of Capital Gain
- Gst on travel by air for business purposes
- Taxability of credit in canara bank ET & T section (NRO)
- Loss of interest in PF transfer from EPFO to Trust
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Residential status of non resident
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
