PF New slab - compliance

[venkat eswaran]

Dear All,

PF limit has been increased to ₹ 15000/-. I Heard this is applicable from wage month of Sep-14. Hope this is right?

Previosuly we have not covered some persons whose salary is ₹ 10000/- now i have to cover these persons also is it?

Now PF minium contributution is ₹ 780/- from employee linked to attendance that is for salary ₹ 6500/ [12%] . Whether this min. amount also increased ? If increased how much?

Now the max amount of Pension scheme is ₹ 541/-. Whether This amount also increased if yes how much?

Pl share is views

Thanks in advance

Venkat

[SANJAY CHATURVEDI]

Now the max amount of Pension Contribution is ₹ 1250/- . Previous rule of ₹ 541/- scrapped.

Those who are having salary less than ₹ 15000/- pension Contribution will be @8.33%.

AI Summary

Provident fund wage ceiling increase expands coverage and fixes pension contribution rate with a new cap. Provident Fund wage ceiling increased to Rs. 15000 effective September 2014, extending coverage to employees previously excluded. The prior pension cap of Rs. 541 is replaced by a new maximum pension contribution of Rs. 1250, and pension contributions for those earning below the Rs. 15000 ceiling are to be made at 8.33%.