Hello all,
I have joined a new firm where highest salary paid is Rs. 1,00,000/- p.m. and lowest is Rs. 5000/- p.m..There is one consultant who is taking care of all legalities( Factories act, ESI, PF, etc..) He just send us challan of combined figure for ESI and PF. I came to know that the deduction of PF is Rs. 780/- for all.Is this legal? As per law, 12% of basic should be deducted. And if we want to implement 12% of Basic, can we implement from month of August or have to follow financial year?
Kindly reply.
From India, Kolkata
I have joined a new firm where highest salary paid is Rs. 1,00,000/- p.m. and lowest is Rs. 5000/- p.m..There is one consultant who is taking care of all legalities( Factories act, ESI, PF, etc..) He just send us challan of combined figure for ESI and PF. I came to know that the deduction of PF is Rs. 780/- for all.Is this legal? As per law, 12% of basic should be deducted. And if we want to implement 12% of Basic, can we implement from month of August or have to follow financial year?
Kindly reply.
From India, Kolkata
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Steps to transfer PF amount.jpg
PF Amount Balance Check.xls