Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Provident Fund

(Querist) 02 December 2009 This query is : Resolved 
Sir,

Has the ceiling on Provident fund of Rs 6500/- revised to Rs 10,000/-.

Then can you please clarify, if a person earns 20,000/- as Basic Salary, contribution by the employer will be limited to 12percent of 10,000 or Rs 6500, if the ceiling is not raised.

Saravanan
Arihant AC (Expert) 02 December 2009
No the PF Limit is Rs. 6500/- till today no amendment has been pass recently.
if Basic Salary is 10,000/- then Rs.780/- as a PF can be deduct.
If permission has been taken for higher salary than Rs.1200/- would be deduct.

Regds,
NAC
Raj Kumar Makkad (Expert) 02 December 2009
Mr. NAC! The limit has already been enhanced and now it is Rs. 10,000/-.

If any employee has basic salary of Rs. 20,000/- at his initial joining, in that event his employer is not legally bound to provide him the facility of PF within the frameowork of law. If granted then it shall be limited to Rs. 10,000/- and an amount of Rs. 1200/- shall be deducted.
Arul Kumar (Expert) 03 December 2009
I agree with Shri Raj.
A K CHANDOK (Expert) 03 December 2009

Sorry,The limit under EPF & MP Act 1952 has not been increased yet. However it has been raised to 10000 in ESI Act. For confirmation, one can check it from the websites of EPFO --
www.epfindia.com ,www.epfindia.gov.in


You need to be the querist or approved LAWyersclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :