Do not be surprised with a revised salary structure from your company, which might dearly impact your pocket. The Supreme Court's judgment on Thursday stated that the Employee Provident Fund (EPF) contribution will be on the total salary amount, which includes all the allowances paid to an employee, and not just on the basic salary.

B B Shetty, a chartered accountant welcomed the ruling, "Even today, many firms would show a reduced basic salary for their employees and adjust a maximum portion of their salary towards allowances, wherein they would contribute a small percentage towards EPF, which the EPF Act was always clear about, but manipulation continued at the ground level."