Any one can share what is the minimum % of basic of gross in EPF is permissible.
From India, Kolkata
From India, Kolkata
Dear Sudipta,
There is no specific guideline in this regard. In PF Act the definition of Basic is very specific. I have come across with some PF inspectors at the time of inspecting Organizations who have suggested to maintain 50% of gross salary as Basic up to 30,000/- monthly gross. Beyond that it may be tapper off i.e at 40,000/- monthly gross basic may be 18000/- (say) if the Organization is ready to pay voluntarily.
Thanks & Regds.,
S K Bandyopadhyay( Howrah, West Bengal)
USD HR Solutions
+9198310 81531
From India, New Delhi
337There is no specific guideline in this regard. In PF Act the definition of Basic is very specific. I have come across with some PF inspectors at the time of inspecting Organizations who have suggested to maintain 50% of gross salary as Basic up to 30,000/- monthly gross. Beyond that it may be tapper off i.e at 40,000/- monthly gross basic may be 18000/- (say) if the Organization is ready to pay voluntarily.
Thanks & Regds.,
S K Bandyopadhyay( Howrah, West Bengal)
USD HR Solutions
+9198310 81531
From India, New Delhi
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Minimum wages- Basic.pdf