Provident Fund Office will not challenge the 2011 Supreme Court ruling that allowed the capping of PF contributions. It directs the regional PF offices not to “force employers to contribute over and above the statutory wage ceiling in respect of their employees
At present, companies contribute an amount equal to at least 12 % 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.Option is available for the employees to contribute beyond the statutory wage ceiling if they so desire, subject to approval from the Provident Fund office under Para 26(6) of the Employees’ Provident Funds Scheme, 1952
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