R/S Senoirs, Pls let me update with the minimum limit of Basic wage deducts in EPf as max.limit is 6500/-.in Himachal Pradesh.
From India, Calcutta
4From India, Calcutta
It is right that as per the EPF & MP Act 1952, there is no minimum basic. But the wages should be complied with the provisions of the Minimum Wages Act 1948 i.e. wages for calculating PF contribution should be the Minimum wage as per the Minimum Wages act 1948.
Thanks
Bhupesh
From India, Mumbai
Thanks
Bhupesh
From India, Mumbai
It is right that as per the EPF & MP Act 1952, there is no minimum basic. But the wages should be complied with the provisions of the Minimum Wages Act 1948 i.e. wages for calculating PF contribution should be equal to or greater than Minimum wage as per the Minimum Wages act 1948.
Thanks
Bhupesh
From India, Mumbai
Thanks
Bhupesh
From India, Mumbai
Under the EPF & MP Act 1952, there is no minimum limit prescribed. However, the maximum statutory limit is 6500 and beyond it is optional.EPF ACT has nothing to do with the minimum wages act as even a piece rated employee earning less than minimum wages has to contribute in r/o a covered estt.
Under EPF Act, contributions are to be deposited on the amount paid /payable.
Chandok--ex RPFC
CONTACT --09988021715
From India, Chandigarh
Under EPF Act, contributions are to be deposited on the amount paid /payable.
Chandok--ex RPFC
CONTACT --09988021715
From India, Chandigarh
there is no minimum limit for epf deduction , But the wages should be complied with the provisions of the Minimum Wages Act 1948. The epf deduction should be on the mimimum wages of that state which can,t be bifurcated i.e mimimum wages shuld be the basic.
thanks & regards,
From,
Sumit Kumar Saxena,
9899669071, 0120-4131277
From India, Ghaziabad
thanks & regards,
From,
Sumit Kumar Saxena,
9899669071, 0120-4131277
From India, Ghaziabad
Since there is no min PF prescribed under the law it should not be construed that wages should be near to nil and rest other allowances! Wages are governed under the Min Wages Act and varies men to men, place to place and Industry to Industry. Consider what do u pay as Basic & DA. U may limit upto 6500/-
PS even a part-time employee getting paltry sum need to be enrolled as PF Member irrespective of the fact that he has many Masters and total exceeds 6500/- from all. U have to discharge your liability to the extent what do U pay.
From India, Jaipur
PS even a part-time employee getting paltry sum need to be enrolled as PF Member irrespective of the fact that he has many Masters and total exceeds 6500/- from all. U have to discharge your liability to the extent what do U pay.
From India, Jaipur
Seniors, this information is really useful,but my doubt is still there..... acc to min wages act(haryana) min wages are 3310. and basic is 60% of total wages. so for 4000rs. salary what shuld be the basic pay 3310 0r 2400 or i can take below 2400(60% of 4000rs.) or above 3310 upto any extent since there is no fixed limit for basic pay. so what is 60% max limit of basic to wages or min limit??????
VINITA SHARMA
HR Executive
Velocity Automotives Pvt. Ltd.
VOLKSWAGEN AMBALA
From India, Calcutta
VINITA SHARMA
HR Executive
Velocity Automotives Pvt. Ltd.
VOLKSWAGEN AMBALA
From India, Calcutta
Dear vinita,
greetings for the day
If the mimimum wages is Rs. 3310, the pf deduction should be on Rs. 3310, in the case you are asking that if wage is Rs. 4000/-, the EPF should be deducted on Rs. 3310, the basic rate should not be less than the minimum wage describe by that state, the consideration of 60% is only applicable when the wages exceed Rs. 10000/-.
hope this will clear all your doubt.
Thanks & regards,
from,
sumit kumar saxena,
+91-9899669071, 0120-4131277
From India, Ghaziabad
greetings for the day
If the mimimum wages is Rs. 3310, the pf deduction should be on Rs. 3310, in the case you are asking that if wage is Rs. 4000/-, the EPF should be deducted on Rs. 3310, the basic rate should not be less than the minimum wage describe by that state, the consideration of 60% is only applicable when the wages exceed Rs. 10000/-.
hope this will clear all your doubt.
Thanks & regards,
from,
sumit kumar saxena,
+91-9899669071, 0120-4131277
From India, Ghaziabad
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Minimum wages- Basic.pdf