If my basic salary is Rs 15000/- Pf is deducted on capping
of 6500/- ie 780/- per month. If I work for 20 days and
then my basic salary comes to rs 10000/- which is still
higher than minimum limit of Rs 6500/-.Please suggest PF
deduction will be 780/- or lower based on 6500x20/30x12%
- 9 Answers
- 19805 Views
- I also Faced
- E-Mail Answers
Answer Posted / thomas mathew
PF is statutorily deducted on basic+da @ 12% and the employer also contributes equal amount to your one's PF a/c. Employer can deduct PF in the following ways.
Deduct PF @ 12% on full basic+da.
Employer has the option to deduct PF at capped amount of Rs.6500/-. In this case employer saves on his contribution, as the employer is also required to contribute an amount equal to the PF deducted from one's salary. Many employers deduct PF on the capped amount of 6500/- and many employers deducted on full salary(basic+da). If the basic+da is lesser than 6500/- employer is required to deduct PF only on that amount. Now the govt has enhanced the capped amount from 6500 to 15000 which will come into effect very shortly.
| Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
What sort of image do you have?
Who will audit an auditing firm?
What is audit control procedure?
What do you mean by vouching?
hi friend i have selected in ssc cgle as accountant in audit department. can anyone tell about the work of accountant in audit department?
what is the difference you can make by doing your course in the country of your choice
Define decommission liability?
Explain the difference between internal audit and external audit?
what percent of wages calculate from sales of a firm (registered under manufacturing of machinery spares) sales (appr)- RS.10000000/-
What techniques used during an audit?
What are intangible assets?
what audit procedure i can do in the share capital account of a company and why it have been apply?
promotions of a new apointed auditor in cgda.
Explain the importance of evaluating an internal audit department?
What is external audit?
