Dear Sir
At joining time 6000/- basic of one employee and PF deducted as 12% of basic after First increment his basic is 6600/- and he asked for non deduction of PF, it is possible or not
sagar
(CA FINAL STUDENT)
(60 Points)
Replied 04 October 2011
Dear sir,
The maximum amount from which the pf can be deducted is rs.6500/-, thus if the salary increased from 6500 the pf should be deducted on 6500/-. In other words we can say that the maximum amount of pf deducted is Rs. 780 (6500*12%).
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
