11 February 2014
As per the Act, employees and employer's providential fund is 12% of Basic + D.A... (each)
As I have read it in one of the articles,that If the employees basic salary is above 6,500 say 11,500 can employer's contribution be 12% of 6500. ( just want to clarify whether it is possible)
If possible under which section of the related Act?
12 February 2014
As per Provident Fund Act, if your basic + DA is below 6,500 previously where employer used to deduct PF , and after that it got increased to 11,500 , then in such situation employer can deduct your PF only on 6,500. But if from the very first day your salary + DA is 11,500 then no neeed to deduct PF at all
CAclubindia
