EPF wages are capped at Rs 15,000. What is the 12% contribution on it?
ARs 1,800
BRs 1,500
CRs 2,400
DRs 1,200
Answer & Solution
Correct answer: A. Rs 1,800
12 percent of the capped wage of 15,000 comes to Rs 1,800.
Keep practising Employee Benefits
Browse all Employee Benefits questions for CA Inter, or explore more Accounting topics.
Related questions
Employee benefits mainly aim to increase what for staff?Which US plans let employees choose from a menu of benefits?Employees tend to see mandated benefits as creating what?Which body coined the term fringe benefits during World War II?What is exchanging cash wages for another benefit called?In which year was India's fringe benefits tax abolished?The IASB defines employee benefits as consideration for what?Who prepared the 1943 report that shaped India's health insurance scheme?