Dear All,
I want to know that Is there any probition for PF taken or not.
If the person has Basig amount Rs. 6500/- if yes than kindly let me know the section and Act of this provision.
Thanks & Regards
Neeru
From India, New Delhi
I want to know that Is there any probition for PF taken or not.
If the person has Basig amount Rs. 6500/- if yes than kindly let me know the section and Act of this provision.
Thanks & Regards
Neeru
From India, New Delhi
Hi,
The employer is bound to have registration under Employees Provident Fund and Miscellaneous Provisions Act, when the employee strength is above 20 irrespective of basic pay constraints etc.
The employee is bound to deduct and contribute towards the EPF scheme when the basic pay of an employee is Rs. 6500 a month or less..
To register you need to fill two forms namely a proforma for the registration with PF department and other form for registration of BN (Business No.).
with best regards,
Umesh
(welcomeumesh@yahoo.com)
From India, Delhi
141The employer is bound to have registration under Employees Provident Fund and Miscellaneous Provisions Act, when the employee strength is above 20 irrespective of basic pay constraints etc.
The employee is bound to deduct and contribute towards the EPF scheme when the basic pay of an employee is Rs. 6500 a month or less..
To register you need to fill two forms namely a proforma for the registration with PF department and other form for registration of BN (Business No.).
with best regards,
Umesh
(welcomeumesh@yahoo.com)
From India, Delhi
hi neeru,
There are some basic rules regarding PF deduction..
1. If Basic+DA is<=6500 then employee=12 % of basic+DA,emloyer=12% of basic+DA
apart from that employer has to pay 1.61 % as administrative charges towards PF.
2. If an employee was earlier having Basic salary less than 6500 & his salary has been revised to be greater than 6500, he would continue to be a member of PF.(If during all this period he was ur employee)
3. However a new joinee ie a fresher who have not been a member of PF earlier is drawing basic salary>6500 would be an exempted employe.
4. For an employee who was a member of PF in his earliar orgnistions has joined urs with salary >6500,in that case there are two possibilities-
a. He can be exempted by getting & signed form -11.
b. Otherwise he should continue to be a member. It is a better decision keeping in mind the justice & equity.
hope ur doubts have been cleared......
For further queries feel free to contact....vikas.dubey@6ten.co.in
regards
vikas
Dear All,
I want to know that Is there any probition for PF taken or not.
If the person has Basig amount Rs. 6500/- if yes than kindly let me know the section and Act of this provision.
Thanks & Regards
Neeru[/quote]
From India, Mumbai
There are some basic rules regarding PF deduction..
1. If Basic+DA is<=6500 then employee=12 % of basic+DA,emloyer=12% of basic+DA
apart from that employer has to pay 1.61 % as administrative charges towards PF.
2. If an employee was earlier having Basic salary less than 6500 & his salary has been revised to be greater than 6500, he would continue to be a member of PF.(If during all this period he was ur employee)
3. However a new joinee ie a fresher who have not been a member of PF earlier is drawing basic salary>6500 would be an exempted employe.
4. For an employee who was a member of PF in his earliar orgnistions has joined urs with salary >6500,in that case there are two possibilities-
a. He can be exempted by getting & signed form -11.
b. Otherwise he should continue to be a member. It is a better decision keeping in mind the justice & equity.
hope ur doubts have been cleared......
For further queries feel free to contact....vikas.dubey@6ten.co.in
regards
vikas
Dear All,
I want to know that Is there any probition for PF taken or not.
If the person has Basig amount Rs. 6500/- if yes than kindly let me know the section and Act of this provision.
Thanks & Regards
Neeru[/quote]
From India, Mumbai
thanx for ur reply vikas but i want to know if there is any law than is it any section for that. regards Neeru
From India, New Delhi
From India, New Delhi
Right now i can not tell u the exact sec no.U can go through the act.It is small one would’nt take more than 2-3 hrs. check epfindia.nic.in. bye vikas
From India, Mumbai
From India, Mumbai
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PF act.doc
Employees' PF & Misc Prov Act 1952.pdf