Pf deduction
This query is : Resolved
05 January 2013
Whether PF will be deducted on basic pay or earned salary.
05 January 2013
Hi
Yes it is calculated on earned Basic + DA salary.
So e.g. if your Basic + DA is Rs. 20,000 & you worked for 15 days after 30 days, then you will get Rs. 10,000/- as earned Basic + DA & PF will be deducted on 10K.
Thanks!!
Yes it is calculated on earned Basic + DA salary.
So e.g. if your Basic + DA is Rs. 20,000 & you worked for 15 days after 30 days, then you will get Rs. 10,000/- as earned Basic + DA & PF will be deducted on 10K.
Thanks!!
05 January 2013
In Act, it is clearly mention that when basic & d.a. is above Rs.6500 at the time of joining then he may not become the member for PF. But employers contribution is limited to 12% on Basic & D.A. but employee can increase his share upto 20% but only after prior permission from PF Commissioner.
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