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Provident Fund Office has allowed companies cap on PF contribution
Posted on: 30/May/2014 9:46:42 AM
The Provident Fund Office has allowed companies to cap their per-month PF contribution to employees at Rs. 6,500. At present, companies contribute an amount equal to at least 12 per cent of an employee’s basic salary towards his/her PF. Now if a company chooses it need not provide more than Rs. 6,500, the overall benefits of some salaried employees could be hit by the new circular. The final call rests with employees.
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