Dear Seniors,
I have been working with a manufacturing industry and our establishment enrolled with EPF since 2009. As of now we (employer) contribute EPF for actual basic + DA (i.e. 12% employer contribution for actual basic + DA), now we have a thought of setting limit for employer contribution (i.e. 12% employer contribution for only 15,000 /- from Basic + DA).
Example:
Current Situation:
Basic = 24000 /-
Employer Contribution = 2880 /- (12 % of Basic)
Employee Contribution = 2880 /- (12% of Basic)
Planned Scenario with limit:
Basic = 24000 /-
Employer Contribution = 1800 /-(12% for 15,000 /- basic alone)
Employee Contribution = 2880/- (12% of Basic)
If it is possible to set the employer contribution limit, then what are the documents we have to submit for the same.
Kindly need your support.
From India, Coimbatore
I have been working with a manufacturing industry and our establishment enrolled with EPF since 2009. As of now we (employer) contribute EPF for actual basic + DA (i.e. 12% employer contribution for actual basic + DA), now we have a thought of setting limit for employer contribution (i.e. 12% employer contribution for only 15,000 /- from Basic + DA).
Example:
Current Situation:
Basic = 24000 /-
Employer Contribution = 2880 /- (12 % of Basic)
Employee Contribution = 2880 /- (12% of Basic)
Planned Scenario with limit:
Basic = 24000 /-
Employer Contribution = 1800 /-(12% for 15,000 /- basic alone)
Employee Contribution = 2880/- (12% of Basic)
If it is possible to set the employer contribution limit, then what are the documents we have to submit for the same.
Kindly need your support.
From India, Coimbatore
Hi Friend,
As per your query your basic+Da is 24000 then as per EPFO act its depend on employer, at least employer have to provide Basic+DA 15000 of PF contribution , If employer not able to provide Basic+DA 24000 of PF contribution then minimum he has to provide Basic+DA 15000 of PF .
If you have any query feel free to email or call me.
Regards
Govind
9555046934
From India, Delhi
6As per your query your basic+Da is 24000 then as per EPFO act its depend on employer, at least employer have to provide Basic+DA 15000 of PF contribution , If employer not able to provide Basic+DA 24000 of PF contribution then minimum he has to provide Basic+DA 15000 of PF .
If you have any query feel free to email or call me.
Regards
Govind
9555046934
From India, Delhi
You need not to submit any document for reducing employer share of contribution. Hon. Supreme Court has already said in a verdict that an employer can reduce his share of contribution to the prescribed limit. It is not a violation of law.
Please also refer the attached file and read point 7 where it is clearly mentioned.
Regards
Dinesh Kuamar
From India, New Delhi
Please also refer the attached file and read point 7 where it is clearly mentioned.
Regards
Dinesh Kuamar
From India, New Delhi
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