Hi All Seniors,
If I am working in an XYZ private limited marketing company with 30 employees without registration in EPF and ESI, is it necessary to be registered into EPF and ESI if everyone is withdrawing 20K per month in cash or cheque? Could they withdraw their salary without any deduction? Is there any way to opt out of EPF and ESI?
From India, Jaipur
Acknowledge(0)
Amend(0)
2If I am working in an XYZ private limited marketing company with 30 employees without registration in EPF and ESI, is it necessary to be registered into EPF and ESI if everyone is withdrawing 20K per month in cash or cheque? Could they withdraw their salary without any deduction? Is there any way to opt out of EPF and ESI?
From India, Jaipur
Acknowledge(0)Amend(0)
Dear vxlgaurav,
You will have to register under the PF Act and submit Form No. 11 regarding employees choosing not to become members of the EPF scheme. If any employee was a member of PF in a previous company, they must be covered under the act.
Regards,
Rajendra Bhavsar
From India, Mumbai
Acknowledge(0)Amend(0)
You will have to register under the PF Act and submit Form No. 11 regarding employees choosing not to become members of the EPF scheme. If any employee was a member of PF in a previous company, they must be covered under the act.
Regards,
Rajendra Bhavsar
From India, Mumbai
Acknowledge(0)Amend(0)
If the basic salary + Dearness Allowance (DA) of all employees is above Rs. 6500 per month, there is no statutory obligation to register with the Provident Fund (PF). Even if some employees were covered under the Employees' Provident Fund (EPF) in their previous employment, it will not be applicable for their current employment.
Abbas.P.S
From India, Bangalore
Acknowledge(0)Amend(0)
Abbas.P.S
From India, Bangalore
Acknowledge(0)Amend(0)
Thank you so much for sharing information. But tell me If we got cash as salary & no salary heads like basic, da or hra etc.. then what should be do??
From India, Jaipur
Acknowledge(0)Amend(0)
From India, Jaipur
Acknowledge(0)Amend(0)
Dear Senior, my boss wants to close the ESI by way of raising salary 100% increment above ceiling limits. it is correct. kindly guide me by immediate reply. thanks with regards sahanasamu
From India, Madras
Acknowledge(0)Amend(0)
From India, Madras
Acknowledge(0)Amend(0)
It is correct. Once you crossed Rs.15000 per month gross, automatically you will come out ESI, but continue to deduct ESI till the contribution period over
From India, Madras
Acknowledge(0)Amend(0)
From India, Madras
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
ESI contribution rates lowering.pdf
ESI & EPF REGISTRTION DOCUMENT.doc