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The maximum and minimum limits of Provident Fund (PF) contributions can vary by country and specific regulations. For example, in India, the Employee Provident Fund (EPF) mandates a minimum contribution of 12% of the basic salary from both the employee and employer, while there is no specified maximum limit for contributions; however, the interest on contributions is capped at a certain salary threshold (currently ₹15,000 per month for mandatory EPF). Thus, if an employee earns ₹20,000, their contribution would still be calculated on ₹15,000 for the purpose of EPF, even though they may contribute a higher percentage voluntarily.

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2mo ago

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Related Questions

Is rebate on pf inclusive in minimum slab of 160000?

No, the rebate on the provident fund (PF) is not included in the minimum slab of ₹160,000. The minimum slab typically refers to the income threshold for tax calculations, while rebates on contributions to PF are considered separately. Therefore, the rebate is an additional benefit that does not affect the minimum slab limit for taxation.


What is minimum and maximum portion of basic salary will be duducted for provident fund and under what law?

The minimum amount is 12% of your Basic Salary There is no maximum amount. You can contribute any % of your salary into your PF corpus


Is minimum wages the lowest basic pay on which pf is to be deducted?

Pl. tell me minimum basic salary/wage for pf deduction


How do you calculate rebate on pf?

There is no rebate on PF. You only get tax benefits for PF contributions equal to the amount contributed subject to an upper limit of 1 lakh.


What is the mininum basic for pf?

None. There is no minimum basic salary. Whatever is the basic salary 12% of it goes towards pf.


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Can pf contribution of employee be reduced?

No. It is set at a minimum of 12% of the employees basic salary


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No.


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You need to fix a certain amount as basic salary if you want to deduct PF. set a minimum number as basic salary and calculate PF on it. The remaining amount based on piece rate can be added a different component in the persons salary