Hi everyone,
In a company,which department is responsible for operating the PF accounts of employees - HR department or 'Finance & Accounts' department?
If it is a joint responsibility, who is responsible for which part of the work?
For example, if filling PF forms from employees is HR's responsibility; who is responsible for opening PF account and the statutory compliance?
Please clarify!
Thanks & Regards,
Pallavi
From India, Mumbai
In a company,which department is responsible for operating the PF accounts of employees - HR department or 'Finance & Accounts' department?
If it is a joint responsibility, who is responsible for which part of the work?
For example, if filling PF forms from employees is HR's responsibility; who is responsible for opening PF account and the statutory compliance?
Please clarify!
Thanks & Regards,
Pallavi
From India, Mumbai
Dear Pallavi, Generally it is HR’s responsibility but if there is no Personnel Departmrnt then it is the Finance Department’s responsibility. With Regards, Vineet Deshmukh
From India, Yavatmal
25From India, Yavatmal
Thanks to both of you for the replies.
I have another question: Our company is a start up, and we have to open our company PF account with the PF office. Who is responsible to open the company PF account with PF office - HR or Finance?
Best Regards,
Pallavi
From India, Mumbai
I have another question: Our company is a start up, and we have to open our company PF account with the PF office. Who is responsible to open the company PF account with PF office - HR or Finance?
Best Regards,
Pallavi
From India, Mumbai
Dear Pallavi,
Normally PF, ESI etc related matters are handled by HR / Personnel department of a Company and the Finance department supports them by making the funds available for the liability to be paid and getting it deposited. The legal formalities / registrations / Form filling etc has to be done by HR / Personnel department only.
In a start up, you can discuss with the management and fix the responsibilities that each of the departments would be handling.
I hope this would help you.
Thanks,
Kind Regards,
Avika Kapoor
General Manager - Business Development
E-174, Kalkaji, New Delhi-110019
, 7503110322
Website: Kapgrow
From India, New Delhi
Normally PF, ESI etc related matters are handled by HR / Personnel department of a Company and the Finance department supports them by making the funds available for the liability to be paid and getting it deposited. The legal formalities / registrations / Form filling etc has to be done by HR / Personnel department only.
In a start up, you can discuss with the management and fix the responsibilities that each of the departments would be handling.
I hope this would help you.
Thanks,
Kind Regards,
Avika Kapoor
General Manager - Business Development
E-174, Kalkaji, New Delhi-110019
, 7503110322
Website: Kapgrow
From India, New Delhi
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PF for foreign employees 1.10.08.pdf