Plz guide me about the director’s salary and whether all compliance like pf is applicable to Directors or not for NBFC.
From India
From India
Yes, director drawing salary from the establishment will be covered by EPF and other labour laws subject to 'eligibility conditions' of salary/ wage. Accordingly, if his salary is not more than Rs 15000 (!) then he should be given PF coverage. Even if his salary is more than Rs 15000, he may be covered provided he is an existing member of PF having been covered by EPF when he was with his previous employment. Similarly, if his salary is not more than Rs 21000, he should be given ESI coverage also. When this director leaves your company after completing five years of continuous service, he should be paid gratuity also.
From India, Kannur
4242From India, Kannur
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