My employer is registered with the EPFO and deposits employee contribution every month into employee's EPF account.
My basic pay is 68,000 per month. I have 'opted-in' for contribution of my salary to my EPF account. I noticed that my employer is only deducting 1800 from my salary for contribution to the PF. Similar are the contribution of the employer to my EPF and EPS account.
As per my understanding, I can contribute no less than 12% of my basic to the EPF and employer has to do the same. Am I missing something here?
I reached out to the finance team and I got the answer that they are doing the same for other employees as well and hence cannot change the contribution for me. However, most of the employees have 15000 as their basic salary. Is there anything that can be done? Should I raise a complaint with the regional provident fund officer?
CAclubindia
