please tell me what is difference between exempted company and unexempted company,related in pf matters? Lokesh
From India, Delhi
9From India, Delhi
Hi Lokesh,
Exemption of a company from the act is basically called exempted company. Rest are unexempted. Exempted company is not compelled to contribute or to follow the act. Exemption is not easily granted. Exemption is normally allowed by the central govenment under section 16(2) of the act and only to a some class of establishments and that too only for certain period. Nowadays this exemptions are granted only to companies regeistered under Societies act as they were mainly run through aids received from central/state goverenments. There are certain establishments which have engaged EX-Service men where the exservice men are already pension receivers. Even these type of companies also get exemption for specific period. BUt exemptions are allowed only after thorough investigation on those companies.
Thanks.
Vijay...
From India, Madras
Exemption of a company from the act is basically called exempted company. Rest are unexempted. Exempted company is not compelled to contribute or to follow the act. Exemption is not easily granted. Exemption is normally allowed by the central govenment under section 16(2) of the act and only to a some class of establishments and that too only for certain period. Nowadays this exemptions are granted only to companies regeistered under Societies act as they were mainly run through aids received from central/state goverenments. There are certain establishments which have engaged EX-Service men where the exservice men are already pension receivers. Even these type of companies also get exemption for specific period. BUt exemptions are allowed only after thorough investigation on those companies.
Thanks.
Vijay...
From India, Madras
- Wish to add one more point to what Mr. Vijay has stated.
- Companies can form their own PF Trust. In case PF authorities are satisfied with the organization and functioning of PF Trust, they will grant exemption to such companies from contributing PF to EPF Scheme. Such organizations are called Exempted Company under PF Act.
From India, Pune
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