Pf deduction

Others 978 views 3 replies

Wishing all CA Clubmeber, Happy Dashera.

I want to know the rate of deduction in case of PF. Previously it was on Basic Salary of Rs.6,500/-, now it is on Rs.15,000/-. I want to know whether a person having a salary of Rs.15,000/- come under this provision. The rate deducted on Rs.6,500/- or Rs.15,000/-. An employee has PF and leave the company, joined the other company after 6 months does PF applicable to him? what is the form that has to fill in case one does not want to get deduction in the PF. Also I want to know whether if the salary is paid in cash, in that case PF also has to be deducted?. An emloyee whose name is not in the muster does PF applicable to him. Please address my query, I would be very thankfull.

Replies (3)

Wishing you the same...

 

Q- I want to know whether a person having a salary of Rs.15,000/- come under this provision.

Ans- Yes

 

Q-  An employee has PF and leave the company, joined the other company after 6 months does PF applicable to him?

Ans-If Basic is Rs. 15000 or less at co. where he joins then PF is applicable.

 

Q- What is the form that has to fill in case one does not want to get deduction in the PF.

Ans- Form C to be submiteed if Basic + DA is more than 15k.

 

Q- Also I want to know whether if the salary is paid in cash, in that case PF also has to be deducted?.

Ans- Yes

 

Q-An emloyee whose name is not in the muster does PF applicable to him. 

Ans- Does it means he is consultant? If yes then no PF to be paid.

 

Reref for more details: /forum/details.asp?mod_id=233718

Thanks Vaibhav for solving my query. Can you pls. explain, as of now the Provision has been increased from Rs.6,500/- to Rs.15,000/-, now then 12% is applicable on Rs.6,500/- or on Rs.15,000/- (an employee whose salary is Rs.15,000/- without any deduction). The last query Answer, if employee (not a permanent) is working on a daily Salary/Wages basis is PF deduction is applicable to him?.

Q- Provision has been increased from Rs.6,500/- to Rs.15,000/-, now then 12% is applicable on Rs.6,500/- or on Rs.15,000/-
Ans- 12% is applicable on Actual Basic paid or 15000 (pro-rated) if you are putting cap on calculating salary to Rs 15K whichever is lower.

 

Q-if employee (not a permanent) is working on a daily Salary/Wages basis is PF deduction is applicable to him?
Ans: Yes, it is applicable to him.


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