Preheat the oven to 350°F (175°C). Grease and flour two 9-inch round cake pans.

In a large bowl, whisk together the flour, sugar, baking powder, baking soda, cinnamon, nutmeg, and salt.

In another bowl, mix the oil, pumpkin puree, eggs, and vanilla extract until well combined.

Gradually add the wet ingredients to the dry ingredients, stirring until just combined.

Divide the batter evenly between the prepared pans and smooth the tops.

Bake for 25-30 minutes or until a toothpick inserted into the center comes out clean.

Allow the cakes to cool in the pans for 10 minutes, then transfer to wire racks to cool completely.

For the frosting, beat the softened cream cheese and butter together until smooth.

Gradually add the powdered sugar and vanilla, beating until creamy.

Once the cakes are completely cooled, place one layer on a serving plate, spread a layer of salted caramel sauce, and then frost with cream cheese frosting.

Add the second layer, cover the top and sides with more frosting, and drizzle with additional salted caramel.

Slice and serve!