Hi, My contribution to PF is Rs. 1100. But company’s contribution to PF is Rs. 559. Why there is such difference??
From India
From India
hi
your entire pf contributions goes to PF account, where as there is limitation due to the ceiling limit of Rs 780 (Rs 6500 is the maximum limit for PF consideration)
Some companies pay Pf contributions on 12% of actual basic of the employee
It is Rs 239 and Rs 541 which makes it Rs 780 and it is the contribution ratio of 8.33 % to pension fund and 3.67% to the pf fund from the employer side. Hene the management will be making the balance of rs 239-1100 to your pension fund, where as your entire contribution of Rs 1100 will be in PF fund
Hope, you will be clarified
Regards
R Sudhakar
From India, Madras
7your entire pf contributions goes to PF account, where as there is limitation due to the ceiling limit of Rs 780 (Rs 6500 is the maximum limit for PF consideration)
Some companies pay Pf contributions on 12% of actual basic of the employee
It is Rs 239 and Rs 541 which makes it Rs 780 and it is the contribution ratio of 8.33 % to pension fund and 3.67% to the pf fund from the employer side. Hene the management will be making the balance of rs 239-1100 to your pension fund, where as your entire contribution of Rs 1100 will be in PF fund
Hope, you will be clarified
Regards
R Sudhakar
From India, Madras
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