dear sir, my employer says that there is a ceiling of Rs. 750/- p.m. on EPF contribution.(i.e. for monthly salery of Rs. 6500/- or more) my monthly salery is Rs. 30000/- but EPF deducted is only 750/- Is this right ? - PPsak
RE:EPF
by on Jun 25, 2007 12:32 PM Permalink
NO thats not the case...IT works from company to company..I think there is some law under which if all the employees of a company are above a particular income bracket then the company has the option of either deducting a sum of Rs. 750 P.M or dedecuting 12% of the basic. The thing is that it has to be uniform across the company. Al lof to agree to either of the above option. You cannto have one half contributing on Rs. 750 and the other half contributing 12%.
RE:EPF
by Jayant on Jun 25, 2007 12:33 PM Permalink
If employee & employer (both) are agree then EPF contribution can be raised upto 12% of Basic DA. In your case employer is not agree.
RE:EPF
by mahavir prasad hawa on Jun 25, 2007 12:32 PM Permalink
epf is deducted only on your basic pay dearness allowance.your employer is bound to contribute 12% on this pay component (out of it Rs 541 or 3.3% goes to pension fund).if the amount calculated by u this way is less u can ask the pay master to rectify.
RE:EPF
by rahul pandey on Jun 25, 2007 12:32 PM Permalink
Hi! EPF is deducted only Basic salary DA so u must be having 9k as your Basic salary rest will be HRA ,Medical,etc.
