If the employee has notice till 08th July and the employer has early released the employee on 31st May but pays the salary till 08th July as compensation. Then what is the Date of Exit/Leaving the Company in EPFO. Is it 31st May or 08th July. And If the employee joins another organization before 08th July, then what is the exit date in EPFO? Please clear this doubt.
From India, New Delhi
From India, New Delhi
If you have relieved the employee on My 31st, the date of exit should be 31st May. At the same time, if you have paid salary till 8th July, then PF should also have been deducted, right? Then the date of exit should be July 8th. Now if you have settled the dues as on 31st May but has paid 'compensation' or notice pay for early relieving,then you should account that part of salary, ie, salary for the month of June and July till 8th, as Notice Pay and not as Salary. Then you need not deduct PF in June and July, and you can exit the employee on 31st May itself. If the employee joins a company before July 8th, it will not clash with the joining date in his new company. I recommend that you should marl exit on May 31st itself and whatever amount is payable for the period from 1st June till 8th July should be paid as compensation for early relieving or Notice Pay which will not attract PF.
From India, Kannur
4238From India, Kannur
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Exit.xls
Order No. 1-2018 Extension of date for submitting the statement in FORM GST TRAN-2.pdf
Exit-interview_ 195.doc