Provident fund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 January 2014
Dear experts
Is there any minimum and maximum limit for PF contribution by the employer.
Suppose an employee salary is (basic+DA)= 5000/- and adding his other allowances came upto 6500/- and employer has contributed 12% on 6500/-.Now he has paid EPS 8.33% on 6500/- and 3.67% on 6500 to EPF. Is it correct.??
pls its urgent
Is there any minimum and maximum limit for PF contribution by the employer.
Suppose an employee salary is (basic+DA)= 5000/- and adding his other allowances came upto 6500/- and employer has contributed 12% on 6500/-.Now he has paid EPS 8.33% on 6500/- and 3.67% on 6500 to EPF. Is it correct.??
pls its urgent
23 January 2014
Hi
PF is to be calculated @ 12% on Basic + DA only.
There is limit on max amount contribution i.e. in case if Basic + DA is more than 6500 then you can restrict contributions on Rs. 6500/- only.
Thx
PF is to be calculated @ 12% on Basic + DA only.
There is limit on max amount contribution i.e. in case if Basic + DA is more than 6500 then you can restrict contributions on Rs. 6500/- only.
Thx
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 January 2014
That is OK. thanks for ur reply...
I refer the example in the previous query. Employee basic+DA is 5000/-,and aggregate of other allowance such as washing allowances / performance allow come upto 6500/-, then PF contribution should be on 6500/- or 5000/-..?
My 2nd question, if employer contributed on 6500 then on what amount to be transferred to pension scheme.
I refer the example in the previous query. Employee basic+DA is 5000/-,and aggregate of other allowance such as washing allowances / performance allow come upto 6500/-, then PF contribution should be on 6500/- or 5000/-..?
My 2nd question, if employer contributed on 6500 then on what amount to be transferred to pension scheme.
23 January 2014
Hi,
On Basic + DA i.e. Rs. 5k
If employee contributed on 6500, then pension amt to be trfd on same amt too.
Thx
On Basic + DA i.e. Rs. 5k
If employee contributed on 6500, then pension amt to be trfd on same amt too.
Thx
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