sir, can I break up minimum wages limit into baic salary and allowances for calculation of pf contribution by employee and employer, e.g. if minimum wages limit is Rs.10000/pm can I break up this limit and offer wages as Basic pay Rs.8000 and HRA Rs.2000. in this case pf contributi...
In EPF, 24% of an employee’s salary is diverted to the EPF as a mandatory retirement saving scheme.There is no clarity on how the amount mandatorily deducted from the employer’s contribution and put into the EPS will be invested. But we guess it would also be invested in NPS like Gov...
EPF stands for Employee Provident Fund and is a retirement benefit fund that can be opened by any employee that receives a salary. According to the policies of the retirement scheme a percentage (generally 12%) of the employee’s basic salary will be deposited into the EPF fund on a monthly...
and a lump sum amount which includes the principal and interest thereon is paid to the holder, either on maturity or on retirement.EPForEmployees Provident Fundrefers to an arrangement whereby a certain percentage of the salary of the employees is deducted every month to contribute it towards...