Please Help: provident fund

Posted Date : 29-Dec-2011 , 04:44:13 pm | Posted By anoop

sir,
what is the current rate of contribution for employer & employee. please tell me with a example

Category : Students | Answers : 3 | Comments : 1 | Hits : 283

Answers

Answer By: CA VIPIN GARG

Dear Anoop the current rate of pf is 12% for both employer and employee of the salary...

Where the meaning of salary is :-

BASIC SALARY + D.A. + COMMISSION (IF IT IS PAID FIXED % BASIS OF TURNOVER)

Hope you got the answer you were looking for, have a nice day.................

Answer By: PRIYANKA

Yes, As said by Vipin jee, the rate of contribution is 12% each, but actually , in all ,employers have to bear 13.61% which includes 1.61% as some administration charges. So the total PF that needs to be deposited is 25.61%, which includes 12% employees contribution and 13.61%( 12% + 1.61% ) employers contribution.

Answer By: Rambabu Senkarasetti

I agree with above answer.