If any director retires at 58 yrs, what are the possibilities of their salary, PF, TDS etc.. Meaning how we should pay them if they retain.
From India, Mumbai
From India, Mumbai
Hi,
PF rules will be common to all irrespective of positions. While PF can be continued after 58 years, Pension contribution cannot be deposited. Hence subsequent to Retirement , you may hire the Director on Retainer Consultant basis. In such scenario only TDS deduction will be applicable and no need for statutory deductions like PF.
From India, Madras
947PF rules will be common to all irrespective of positions. While PF can be continued after 58 years, Pension contribution cannot be deposited. Hence subsequent to Retirement , you may hire the Director on Retainer Consultant basis. In such scenario only TDS deduction will be applicable and no need for statutory deductions like PF.
From India, Madras
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