p.f.above Rs.6500/-
This query is : Resolved
15 December 2008
I have joined the organisation with salary of 30,000/- with basic 8000/-, da 4000/-. is PF is deductable from salary or it is optional for me. pl.suggest..
15 December 2008
It is optional in your case.
15 December 2008
The above clarification is given by taking wages upto a maximum of Rs.6500 towards wage (basic+DA).
Since an excluded employee i.e. drawing wages more than Rs.6500 can also become member of the Fund and the Schemes on joint request and if, for instance, such an employee is getting Rs.10, 000 per month, his share towards provident fund contribution will be Rs.1200 e.g. 12% and employer’s share towards provident fund contribution will be Rs.659 and Rs.541 towards Employees’ Pension Fund.
Since an excluded employee i.e. drawing wages more than Rs.6500 can also become member of the Fund and the Schemes on joint request and if, for instance, such an employee is getting Rs.10, 000 per month, his share towards provident fund contribution will be Rs.1200 e.g. 12% and employer’s share towards provident fund contribution will be Rs.659 and Rs.541 towards Employees’ Pension Fund.
15 December 2008
That is optional in your case.
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