Dear All,
We are trying to recruit a high profile in our company. We have the Statutory element PF as deduction in our salary structure for every employee. To protect his take home if we do not deduct PF for this particular hire what would be implication.
Thanks in advance!
Regards,
Praneeth
From India, Hyderabad
We are trying to recruit a high profile in our company. We have the Statutory element PF as deduction in our salary structure for every employee. To protect his take home if we do not deduct PF for this particular hire what would be implication.
Thanks in advance!
Regards,
Praneeth
From India, Hyderabad
Dear Praneeth,
Greetings!!!
You can do that in only if you take care of two factor
1.Basic+DA of that particular person should be greater than 6500.
2. He/She doesn't transfer PF account from previous company but withdraw and close that and at the time of joining your organization, should be willing to opt out of EPF scheme.
From India, Delhi
107Greetings!!!
You can do that in only if you take care of two factor
1.Basic+DA of that particular person should be greater than 6500.
2. He/She doesn't transfer PF account from previous company but withdraw and close that and at the time of joining your organization, should be willing to opt out of EPF scheme.
From India, Delhi
Sir,
I agree with your reply but for one correction. If is salary is more than Rs.6500/- and is not already member of PF fund, there is no need to get willingness or otherwise. Even if the employee is willing to contribute, the employer is under no obligation to contribute and hence cannot become a member of PF. In the case of salary more than Rs.6500/- (Basic + DA) both the employer and employee should be willing to contribute.
Regards
Pradheep
From India, Vellore
I agree with your reply but for one correction. If is salary is more than Rs.6500/- and is not already member of PF fund, there is no need to get willingness or otherwise. Even if the employee is willing to contribute, the employer is under no obligation to contribute and hence cannot become a member of PF. In the case of salary more than Rs.6500/- (Basic + DA) both the employer and employee should be willing to contribute.
Regards
Pradheep
From India, Vellore
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls