tiesto (Student) 07 April 2009
Shree. ( Advocate.) 07 April 2009
Provident fund is calculated @ 12% on the basic
salary, which indeed is deducted from Employee's salary and
the same plus 12% on the basic is contributed by the
employer. So the aggreate 12% + 12% is remitted to the
Provident fund Department.
For more details browse the THE ALL INDIA SERVICES (PROVIDENT FUND) RULES, 1955.
tiesto (Student) 08 April 2009
Shree. ( Advocate.) 08 April 2009
No,It is not legally acceptable.what ever the amount deducting in your salary ,the same amount employer have to contribute.
lokesh kaushik (service) 09 April 2009
Can you provide me the legal status if i reduce the bacic salary of some of my employees due the new salary increment ,is create any non compliance issue under the EPF Act.
Ruchi (HR Manager) 10 April 2009
JAYANTA BANERJEE (ADVOCATE ) 10 April 2009
bhc (lawyer) 16 April 2009
Lokesh - it is not right to reduce basic salary of any employee below 6500/- . this is because it will be seen as errosion of pension benefit to the employee.
mahesh pandey (Vice President) 17 April 2009
It is not legal, employer has 2 contribute his share equivalent 2 that of employee.
It is not advisable 2 reduce the salary of employee
Gaurish (doctor) 10 June 2009