Hello Brethren,
Some of the employees of our organisation (a KPO) is not willing to get the Providend fund contribution deducted from their salary . My question is , can they refuse to goin the scheme like that (some are directors). If yes what is the legal formalities to be done.
Regards
Prince
there is some misunderstanding between them that 12% would get deducted from their gross CTC, which is wrong, they can contribute minimum also, at ceiling level 6500 pm they can continue, i.e 780/- per month from emplyee and susequent contribution from employer. this would be beneficial to higher salary ppl coz they will enjoy the family pension at negligible cost.
CAclubindia
