law: Employee's Provident Funds Miscellaneous Provisions Act, 1952
  6. Contributions and matters which may be
  
  provided for in the Scheme
  The contribution which shall be paid by the
  
  employer to the Fund shall be [ten per cent] of the basic wages, [dearness
  
  allowance and retaining allowance (if any)], for the time being payable to each
  
  of the employees [(whether employed by him directly or by or through a
  
  contractor)] and the employees' contribution shall be equal to the contribution
  
  payable by the employer in respect of him and may, [if any employee so desires
  
  be an amount not exceeding [ten per cent] of his basic wages, dearness
  
  allowance and retaining allowance (if any), subject to the condition that the
  
  employer shall not be under an obligation to pay any contribution over and
  
  above his contribution payable under this section]:
  [PROVIDED that in its application to any
  
  establishment or class of establishments which the Central Government, after
  
  making such inquiry as it deems fit, may, by notification in the Official
  
  Gazette specify, this section shall be subject to the modification that for the
  
  words [ten per cent], at both the places where they occur, the words [twelve
  
  per cent] shall be substituted]:
  [PROVIDED FURTHER that] where the
  
  amount of any contribution payable under this Act involves a fraction of a
  
  rupee, the Scheme may provide for the rounding off of such fraction to the
  
  nearest rupee, half of a rupee or quarter of a rupee.
  Explanation [11: For the purposes of
  
  this [section], dearness allowance shall be deemed to include also the cash
  
  value of any food concession allowed to the employee.
  [Explanation 2: For the purposes of
  
  this [section], "retaining allowance" means an allowance payable for
  
  the time being to an employee of any factory or other establishment during any
  
  period in which the establishment is not working, for retaining his services.]