Employer pf contribution limite
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 June 2013
Can Employer contribute more than 12% amount(6500*12%=780)in PF.
example.
Employee.basic salry is.10000 and his PF contrubution is 10000*12=1200 and employer also contribute same amount.i'e 10000*12%=1200..
wheather this practice is correct if yes.than what will be effect as per income tax.all amount is allowed as per IT act.
example.
Employee.basic salry is.10000 and his PF contrubution is 10000*12=1200 and employer also contribute same amount.i'e 10000*12%=1200..
wheather this practice is correct if yes.than what will be effect as per income tax.all amount is allowed as per IT act.
04 June 2013
Yes this practice is correct. As per income tax, employer's contribution upto 12% is exempt i.e. 1200 in your case is exempt.
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2013
thanks sir ....
04 July 2013
Yes it can be done and no one shall be objecting to it except the employee who is getting less as cash carry
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