Employees Provident Fund Rules when basic+DA crosses Rs.6500
Want to know about the rules of The Employees Provident Fund Organisation (EFPO)? Learn more about the basics of The Employees Provident Fund Organisation (EFPO) rules here.
The Employees Provident Fund Organisation (EFPO) makes it compulsory for deduction of EPF from employees @ 12% of Basic+DA if the Basic+DA is Rs.6500 or below per month with an equal contribution from the employer. What is the rule of deduction of the EPF if the employees salary becomes more than Rs.6500 due to increment or revision of his salary while working in the same organisation. Is the deduction @12% compulsory for such an employee. What if the employee refuses contribution since his salary has crossed Rs.6500, what will the contribution of the organisation in such a case. Can someone quote the relevant order or rule of the EFPO in this regard?