Sir,
I am Santosh Naik working in OPAL Pune as an HR Executive, & our Factory located in Uttarakhand Roorkee. Recently we got PF code from Uttarakhand & Pune employees is eligible for PF. We have appointed one lawyer for all statutory work. He is saying that Max eligible amt for PF conrtibution is Rs. 6500/- . If Basic is more than 6500/- you can deduct 12% PF on 6500/ - only. Is this correct.
Plz advise. Its urgent
From India, Pune
I am Santosh Naik working in OPAL Pune as an HR Executive, & our Factory located in Uttarakhand Roorkee. Recently we got PF code from Uttarakhand & Pune employees is eligible for PF. We have appointed one lawyer for all statutory work. He is saying that Max eligible amt for PF conrtibution is Rs. 6500/- . If Basic is more than 6500/- you can deduct 12% PF on 6500/ - only. Is this correct.
Plz advise. Its urgent
From India, Pune
yeah
P.F contribution as per the statutory compliance is necessary for employee & employer up to a Basic of Rs. 6500/- p.m. If the Basic salary is above Rs. 6500/- employee can continue contributinig his P.F but the employer is not compelled to deposite the contribution above Rs 6500/- slab.
From India, Ahmadabad
33P.F contribution as per the statutory compliance is necessary for employee & employer up to a Basic of Rs. 6500/- p.m. If the Basic salary is above Rs. 6500/- employee can continue contributinig his P.F but the employer is not compelled to deposite the contribution above Rs 6500/- slab.
From India, Ahmadabad
Dear Santosh,
this is very general rule that PF limitation is Rs.6500/-.
But there are so many ways and rules to contribute under PF upto and above 6500/-.
I know about the consequences and the subject as i myself handling statutory since last 7yrs. and that your lawyer knows.
My suggestion to you is " It a good opportunity for you to stabilise your PF contribution from stating"
your lawyer is giving a right statement . Please go as per his knowledge & instructions because once you committed and contributed over 6500/- you just can backoff.
Beacuase now you can save employer money by acting within the liabilities and by complying with rules and regulations under PF act.
For any other query pls. contact:
DK Sharma
From India, Ponda
this is very general rule that PF limitation is Rs.6500/-.
But there are so many ways and rules to contribute under PF upto and above 6500/-.
I know about the consequences and the subject as i myself handling statutory since last 7yrs. and that your lawyer knows.
My suggestion to you is " It a good opportunity for you to stabilise your PF contribution from stating"
your lawyer is giving a right statement . Please go as per his knowledge & instructions because once you committed and contributed over 6500/- you just can backoff.
Beacuase now you can save employer money by acting within the liabilities and by complying with rules and regulations under PF act.
For any other query pls. contact:
DK Sharma
From India, Ponda
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf