Compliance under provident fund
“Provident fund is a fund which is composed of contributions made by the employee during the time he/she worked along with an equal contribution by his employer”. Provident fund is calculated as 12% of his/her basic salary & the same amount is contributed by the employer. However employee has the option to contribute more than 12%. Employees drawing basic salary up to Rs. 15,000/- have to compulsory contribute to the provident fund. However, employee drawing above Rs. 15,000/- say Rs. 15,001 has the option to become member of the provident fund.
Our firm deals with returns filing, computation of PF and employee enrollment.