As per the PF Act the contribution of the employee shall be equal to the contribution of employer (12%)
But the calculation of 12% is different in both the case.
in case of employee it is on the Total wages as per the Act.
But in case of Employer it is 12% (8.33% and 3.67%) on the Restricted amount (6500 per month)
So the contribution wont be same in terms of the amount.
Please let me know whether it is amount to be equal or the contribution percentage to be equal.
CAclubindia
