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MANJUNATH (n/a)     11 January 2008

PENSION FUND

Hai All of you,

Friends please tell me whether there is a rule that the Pension Fund should be deducted only for 6500 wages i.e Rs.541.

 

Please it is urgent

 

with regards

MANJUNATH

 


Learning

 1 Replies

Prakash Yedhula (Lawyer)     11 January 2008

From and out  of employer's share of Provident Fund contributions 8.33% of the total wages limited to Rs. 6500/- per month is segregated and credited to the Employees' Pension Fund in  A/C No. 10 ( w.e.f. 1-06-2001 ).  The Central Government also would contribute at the rate of 1.1 / 6% of total wages.

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