Providend fund

This query is : Resolved

Prabhat (Querist)
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10 August 2011 Dear sir,
suppose my salary is 18000/-
Basic = 9000/-
HRA = 4500/-
convy = 800/-
sp.all= 3700/-

Total = 18000/-

Sir, my query is if there is deduction PF 24% from my side only. Is it benefited for or not? In this case if I invest the same amount any other place, it will benefited for me or not? where is suitable place for benefit?

ADITYA

ADITYA (Expert)
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10 August 2011 Dear Prabhat,

Your under-standing is wrong. PF is having two equal contributions of 12% EACH ONE FROM EMPLOYEE AS WELL AS EMPLOYER.

however, you can opt for exemption as your basic salary is more than Rs 6500/=, and ask your employer to compansate their share to you directly.