SWARNENDU SARKAR (Resource Optimizer) 07 November 2011
i) is there any higher limit for employers contribution to my pf ?
ii) can i go for deduction of more amount ( as much as i want) from my wages for my pf a/c ?
iii) is there any limit for tax exemption for amount deposited to pf a/c ? i.e. whether the entire amount
(as much as i want) deposited to my pf a/c is exempted from tax ?
SURIYAPRAKASH.P (hr manager) 08 November 2011
MR. DS
1. As per the PF Act the maximum ceiling amonunt is Rs. 6500/- (Basic+DA) 12% of total amount deductable for Rs. 780/-
2. The maximum contribution up to 50% of basic+ DA salary
3. If you have to pay morethen Rs. 780/-, That is called volunatary contrbution. The Employer did not pay the additional contrbution.
MAHESH SINGH (SR. HR EXECUTIVE) 10 November 2011
i) No, only 12% of basic and DA
ii)You can go for more than 12% statutory deduction ,called VPF and it could be 88% of basic +DA.
III) Maximum one lakh can be taken for tax exemption other than it will be taxable.
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