Hi, can anybody let me know whether PF deductions is not compulsory for those employees who’s gross salary is above 15000/-? Aarti
From India, Mumbai
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1From India, Mumbai
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What is the relevance of your question? What is the importance of Rs. 15000 salary in EPF? Abbas.P.S
From India, Bangalore
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From India, Bangalore
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Oh mam, how are you? I haven't received any mail in a long time. What's going on?
PF will be deducted on the basic salary, not on the gross amount. The basic amount should be 6500/- or less. If employees are getting more than 6500/- as basic, then it will depend on the employer whether they want to provide PF facility or not.
If you didn't understand, please ask again.
Ashish
Delhi
7838606486
From India, New Delhi
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PF will be deducted on the basic salary, not on the gross amount. The basic amount should be 6500/- or less. If employees are getting more than 6500/- as basic, then it will depend on the employer whether they want to provide PF facility or not.
If you didn't understand, please ask again.
Ashish
Delhi
7838606486
From India, New Delhi
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Hey abbas if u knw thn simpky reply fr tht thrad she dnt knw tht is y she is askng we r here to shre our knwkdge n to learn bt dnt telll to any one tht questiin is nt relavant ashish
From India, New Delhi
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From India, New Delhi
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Dear Aarti,
PF calculation is based on the basic salary and not on the gross. Under the PF Act, we have a ceiling of Rs. 6,500 on basic salary. For every employee whose salary is more than Rs. 6,500, they can opt for PF deduction by filling out Form 11. They are also liable to receive employer contribution towards PF as mentioned in their offer letter as PF allowance.
Regards, Prafull
From India, Mumbai
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PF calculation is based on the basic salary and not on the gross. Under the PF Act, we have a ceiling of Rs. 6,500 on basic salary. For every employee whose salary is more than Rs. 6,500, they can opt for PF deduction by filling out Form 11. They are also liable to receive employer contribution towards PF as mentioned in their offer letter as PF allowance.
Regards, Prafull
From India, Mumbai
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Hi Abhas,
I asked this question because in my company, we don't deduct PF of those employees whose gross is more than 15000/-. Basic is 50% of gross, i.e., 7500/-. I had a confusion, so I asked, and you should not have replied if you felt it was not relevant.
Aarti
From India, Mumbai
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I asked this question because in my company, we don't deduct PF of those employees whose gross is more than 15000/-. Basic is 50% of gross, i.e., 7500/-. I had a confusion, so I asked, and you should not have replied if you felt it was not relevant.
Aarti
From India, Mumbai
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Hi Thanks for your reply. So the employees who’s basic is more than 6500 are exempted from the PF deduction? or its voluntary on their part? Aarti
From India, Mumbai
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From India, Mumbai
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Hi Aarti,
This site is especially meant for those who come up with queries, and we all appreciate those who provide their replies and share their knowledge, which is useful for a beginner. So, don't hesitate to ask your queries if you get any obscure replies.
I hope you have cleared your doubt.
Regards,
Prafull
From India, Mumbai
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This site is especially meant for those who come up with queries, and we all appreciate those who provide their replies and share their knowledge, which is useful for a beginner. So, don't hesitate to ask your queries if you get any obscure replies.
I hope you have cleared your doubt.
Regards,
Prafull
From India, Mumbai
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Dear Aarti,
Yes, employees can voluntarily contribute towards PF equivalent to 12% of their basic salary apart from the usual deduction, which is also 12% of the basic salary. And don't get confused between basic and gross because in PF calculation, we only consider the employee's basic salary.
Regards,
Prafull
From India, Mumbai
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Yes, employees can voluntarily contribute towards PF equivalent to 12% of their basic salary apart from the usual deduction, which is also 12% of the basic salary. And don't get confused between basic and gross because in PF calculation, we only consider the employee's basic salary.
Regards,
Prafull
From India, Mumbai
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