15TH JUNE,2010
Our Company till now is extending PROVIDENT FUND facility beyond the Threshold Limit of Rs. 6500.00.
Even an Employee drawing Rs. 60,000.00 per monthis given matching Employer contribution @12% on Rs. 60,000.00( Rs. 541.00 in pension fund and balance goes to provident fund). In order to reduce the mounting overhead expenditure can our Company restrict the employer contribution to Rs. 6500.00 for the employess who are drawing more than Rs. 6500.00?
a clarification is requested please.
P.S.VISHWANATHAN
