Please Help: provident fund
Posted Date : 29-Dec-2011 , 04:44:13 pm | Posted By: Anoop
Category :
Students | Answers :
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Comments :
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sir,
what is the current rate of contribution for employer & employee. please tell me with a example |
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Answers:
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 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.................
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| 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.
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| Answer by: Rambabu Senkarasetti |
| I agree with above answer.
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