PF Contribution

Chitra Sharma (Querist) 08 April 2008 This query is : Resolved
i have 1 query regarding PF. what if an employee wants to invest more than 12% of his salary (say around 50-60%) as his PF contribution, can he do that? is it binding that the employer too contributes the equal amount? if not, then can an employees invest more than 12% as his PF contibution.
Please do reply

Follow Query

Report Abuse

H. S. Thukral (Expert) 08 April 2008
Yes, an employee can contribute in excess of his share legally payable by the employer but the employer is not bound to contribute equally. The employee get the benift of tax saving like his investments in PPF , NSC, LIC premiums etc. as per income tax rules. However there is a limit of maximum of 12% of basic salary and dearness allowance by way of such conribution.

Chitra Sharma (Querist) 09 April 2008
Thank U

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries