After reading of earlier communication by comments are :
In the PF act claue of age is not mention. Age of 58yrs is only for Employee Pention fund (EPF). In this case we have to check terms of his appointment order. Further if he is appointed as Consultant but if he is working with the organization for full time then PF act is applicable as he is working for only your organization.
Devang Shah
Personnel Officer,
Gujarat State Electricity corp.Ltd.
KLTPS, Panandhro.
M- 09909940504
From India, Surat
In the PF act claue of age is not mention. Age of 58yrs is only for Employee Pention fund (EPF). In this case we have to check terms of his appointment order. Further if he is appointed as Consultant but if he is working with the organization for full time then PF act is applicable as he is working for only your organization.
Devang Shah
Personnel Officer,
Gujarat State Electricity corp.Ltd.
KLTPS, Panandhro.
M- 09909940504
From India, Surat
The retirement age is diffrent and further willing to contribute towards the PF subscription is diffrent. We should not under estimate the survival age. In this regard he has full right to protect and secure his rest of life. So there must be a provision and clause to contribute towares PF subscription and he must be supported.
ThanksRanjit Kumar
HR Officer
From India, Alappuzha
1
HI Shilpi,
You need to pay the complete 24% in one single account i.e PF.
Hope u Know this PF has two component1. PF 2. Pension.
12% of employees goes to PF a/c
12% of employer has a break up 3.67 PF+8.33% Pension= 12% employer PF contribution.
If any employees whose age is 58 or above then the 12% employee contribution will reamain same but in employer contribution divert the pension a/c contritbution to PF a/c and in PF statement pension contribution for this employee mark as zero contribution.
For any further clarification please feel free to reach me
Regards
Gopal
From India, Madras
You need to pay the complete 24% in one single account i.e PF.
Hope u Know this PF has two component1. PF 2. Pension.
12% of employees goes to PF a/c
12% of employer has a break up 3.67 PF+8.33% Pension= 12% employer PF contribution.
If any employees whose age is 58 or above then the 12% employee contribution will reamain same but in employer contribution divert the pension a/c contritbution to PF a/c and in PF statement pension contribution for this employee mark as zero contribution.
For any further clarification please feel free to reach me
Regards
Gopal
From India, Madras
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls