Hi
My company are providing PF to employees. Now we have a thought that why dont we start PPF instead of PF because of lot of problems with Provident Fund Department.
We donot want to stop all PF but want to continue with the salary limit of Rs.6500. But want to discontinue for the higher slary class which never was under PF but we gave them PF voluntiarly. Now this section of PF , change to PPF .
Is it permissible to stop the higher salary class PF eventhough they are not under the Act ?
From India, Kochi
My company are providing PF to employees. Now we have a thought that why dont we start PPF instead of PF because of lot of problems with Provident Fund Department.
We donot want to stop all PF but want to continue with the salary limit of Rs.6500. But want to discontinue for the higher slary class which never was under PF but we gave them PF voluntiarly. Now this section of PF , change to PPF .
Is it permissible to stop the higher salary class PF eventhough they are not under the Act ?
From India, Kochi
Dear Biju,
You cannot stop existing employees PF deduction even if they are earning basic salary more than 6500/-. It is applicable for new employee only.
For making exemption from the act, you need to submit prescribed form to the concern dept within 30 days from the date of joining of the employee.
If you have any further doubts please reply.
Regards,
Janardan
From India, Mumbai
85You cannot stop existing employees PF deduction even if they are earning basic salary more than 6500/-. It is applicable for new employee only.
For making exemption from the act, you need to submit prescribed form to the concern dept within 30 days from the date of joining of the employee.
If you have any further doubts please reply.
Regards,
Janardan
From India, Mumbai
An Active PF cannot be discontinued. For the new employees you can take form 11 and not deduct the PF from them. for the higher grade the minimum PF applicable for Rs.6500/- continues.....
From India, Mumbai
From India, Mumbai
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls