hai seniors can anyone suggest me i want to know that is there any maximum limit of salary for p.f contribution . if there is limit please suggest me the procesure of provident fund for employee
From India, Visakhapatnam
From India, Visakhapatnam
hai seniors can anyone suggest me i want to know that is there any maximum limit of salary for p.f contribution . if there is limit please suggest me the procesure of provident fund for employee
From India, Visakhapatnam
From India, Visakhapatnam
173
You query is not clear and can be read in multiple ways.
1. PF act provides that where the salary (basic + da) is above 6500 per month, the PF computation will be done as if the salary is 6500 per month. But nothing stops the employer and employee from contributing higher amounts,
2. If any employee joins the company at a starting salary of more than 6500 per month, and he does not have an existing PF account with a previous employer, he is entitled to claim exemption from PF (note : it is his choice, not the employers choice)
From India, Mumbai
1. PF act provides that where the salary (basic + da) is above 6500 per month, the PF computation will be done as if the salary is 6500 per month. But nothing stops the employer and employee from contributing higher amounts,
2. If any employee joins the company at a starting salary of more than 6500 per month, and he does not have an existing PF account with a previous employer, he is entitled to claim exemption from PF (note : it is his choice, not the employers choice)
From India, Mumbai
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