If the basic salary of an employee exceeds Rs.6500/- ( Say Rs.15000/-) what is the Employer and Emplyee's contribution towards Emplyees Pvidend Fund Scheme, 1952?
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Employee earning more than Rs.6500/- what is the PF amount?
Replies (2)
Where the salary of employee exceeds Rs. 6500 pm, he will be treated as if earning salary of Rs.6500pm. As in your case, where employee is earning Rs.15000pm, he will be treated as if earning Rs. 6500 pm for PF.
| Originally posted by : ABHIJEET DESHPANDE | ||
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Where the salary of employee exceeds Rs. 6500 pm, he will be treated as if earning salary of Rs. 6500pm. As in your case, where employee is earning Rs. 15000pm, he will be treated as if earning Rs. 6500 pm for PF. |
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no its in the case of pension sheme and deposite linked insurance sheme in case of epf employee and employer contribution shall be 15000x10of%=1500 pm
now pension scheme contribution of employer=8.33%of 6500(exceeding 6500)=541.45
so employer contribution towards shall be 1500-541.45=958.55
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