earnest xavier (student final) (57 Points)
08 December 2010Pls Help...
provident fund is applicable to organisations employing more than 20 employees.. PF is only deducted from an employee whose salary is less than 6500. Are the employees whose salary is above 6500 counted to find the limit of 20 for an organisation ??
Arvind Vaze
(Team Lead - Accounts and Finance)
(27 Points)
Replied 08 December 2010
EPF Act in terms of applicability and eligibility i.e. any establishment employing 20 or more persons is applicable and basic + DA pay <= Rs.6500/- are eligible for PF
PF is optional if the employees basic pay and DA component exceeds Rs.6500/- Please ref below link
CAclubindia
