Varadharajan giridharan (Senior manager Accounts) (25 Points)
19 July 2014Given to understand that the wage ceiling for PF has been increased to Rs.15000 from Rs.6500.
I have a following Doubts.
If the salary of employee( Basicx pay + D.A) exceeds Rs.15000
1. Should the company Or organisation Deduct PF for That Employee?
2.IiN THE ABOVE CASE SHOULD THE CONTRIBUTION BE RESTRICTED TO rS.15000 ON BOTH SIDES?
pLEASE CLARIFY
CA R SEETHARAMAN
(CA Practice )
(145994 Points)
Replied 19 July 2014
If the salary of employee( Basicx pay + D.A) exceeds Rs.15000, there is no need of the company Or organisation Deduct PF for That Employee.
If still the company wants to pay PF it can be restricted Rs.15,000. on both sides.
CAclubindia
