DEAR SIR,
PLEASE CLARIFY MY FOLLOWING QUERY IN RESPECT OF PF DEDUCTION FOR A SALARY/WAGE IN EXCESS OF RS.6500/-.
1. AS A PRIVATE LIMITED COMPANY,AND PF ACT IS APPLICABLE TO OUR COMPANY WE ARE DEDUCTING PF FROM EMPLOYEES SALARY AND CONTRIBUTING EQUAL AMOUNT AS EMPLOYERS SHARE
EVEN THOUGH THE WAGES EXCEEDING RS.6500/-.
2. SHOULD WE DEDUCT PF WHEN SALARY EXCEEDS RS.6500/- AND IF SO SHOULD THE EMPLOYER CONTRIBUTE FOR THE EXCESS AMOUNT OVER RS.6500/- OR ONLY EMPLOYEES SHARE IS REQUIRED IF EMPLOYEES ARE ALLOWING FOR THE DEDUCTION.
3. IS THERE ANY NOTIFICATION/CIRCULAR IN THIS RESPECT TO RESTRICT THE PF DEDUCTION UPTO RS.6500/-.
Providend fund contribution
GOPAKUMAR (STUDENT) (30 Points)
22 February 2013
CAclubindia
