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Q. > Please Help: provident fund
sir,
what is the current rate of contribution for employer & employee. please tell me with a example
answered Dec 30, 2011 by CA VIPIN GARG , New Delhi
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.................
answered Dec 30, 2011 by PRIYANKA , GREATER NOIDA
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.
answered Jul 03, 2012 by Rambabu Senkarasetti , Guntur
I agree with above answer.
Experts Panelist
Comments
Siddharth Bumb
29-Dec-2011 , 07:15:41 pm12%