Saroj kumar panda (STUDENT) (31 Points)
27 June 2011If 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?
Abhijeet Deshpande
(Co-Founder & Manager @ Tax-Yantra)
(1171 Points)
Replied 27 June 2011
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.
Rahul Suneja
(CA-Final, CS-Exec)
(215 Points)
Replied 04 October 2011
| 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
CAclubindia
