Dear All,
I am working in a Insurance Distribution House which is yet to apply for PF. But we are in process to contribute in Employees PF. That is why we are keeping the Phrase "Provision for PF" in Offer Letters & Salary Slips of the employees & the PF amount is getting added up with the salary of the employee. Is there any problem in it? Please let me know.
Regards,
Gargi
From India, Kolkata
I am working in a Insurance Distribution House which is yet to apply for PF. But we are in process to contribute in Employees PF. That is why we are keeping the Phrase "Provision for PF" in Offer Letters & Salary Slips of the employees & the PF amount is getting added up with the salary of the employee. Is there any problem in it? Please let me know.
Regards,
Gargi
From India, Kolkata
Your question is vague and does not have complete information regarding the problem. Please explain in details if ou need an answer from the forum
From India, Mumbai
2395From India, Mumbai
Untill and unless you get the registration of PF you cannot deduct the PF from the employee. With regards to the phrase in offer letter/appointment letter that can be done which means whenever the PF gets applicable the same will be deducted from the salary.
From India, Ahmadabad
From India, Ahmadabad
dear seniors!!!!!
i jus want to kno can i check the pf data of a newly recruited employee if he previously had a pf no?
or will every company assign new number to newly recruited?
is there any posibility to check whether he's frauding on others pf no: on fake salary slip?
From India, Chennai
i jus want to kno can i check the pf data of a newly recruited employee if he previously had a pf no?
or will every company assign new number to newly recruited?
is there any posibility to check whether he's frauding on others pf no: on fake salary slip?
From India, Chennai
Dear All,
At first I would like to thank you all for your feedback. But the thing is that, I am talking about the Employer's contribution to PF & not that of the employee's. As long as we are not applying for PF, could we mention it in the Salary Slip as provision for PF?
Regards,
Gargi
From India, Kolkata
At first I would like to thank you all for your feedback. But the thing is that, I am talking about the Employer's contribution to PF & not that of the employee's. As long as we are not applying for PF, could we mention it in the Salary Slip as provision for PF?
Regards,
Gargi
From India, Kolkata
Provisions cannot be mentioned in Salary Slip, You are making a provision which may incur or may not incur, and if it incurs may not match with the provisions, and at last the same has to be reversed in the books of accounts. So if your company has not contributed towards the PF it cannot be shown.
From India, Ahmadabad
From India, Ahmadabad
Dear Saji,
As far as my knowledge is concerned Employer's contribution towards employees' provident fund is 12%. If we make a provision of 12% of the Basic of the employee as "provision for PF" and pay the amount as a part of his/her salary, then what is the harm in it? Please let me know.
Regards,
Gargi
From India, Kolkata
As far as my knowledge is concerned Employer's contribution towards employees' provident fund is 12%. If we make a provision of 12% of the Basic of the employee as "provision for PF" and pay the amount as a part of his/her salary, then what is the harm in it? Please let me know.
Regards,
Gargi
From India, Kolkata
First, tell me :
Are you liable for PF ?
What is your company size (in terms of number of employee)
If you are liable, why have you not applied for it.
Of you are not liable, why are you confusing your self ?
You said you are putting provision in the appointment letter for PF. What exactly are you writing ?
From India, Mumbai
Are you liable for PF ?
What is your company size (in terms of number of employee)
If you are liable, why have you not applied for it.
Of you are not liable, why are you confusing your self ?
You said you are putting provision in the appointment letter for PF. What exactly are you writing ?
From India, Mumbai
As Mr. Saswata has rightly said, since you have not applied and is not legally bound for PF deduction why you want it to be showed in Salary Slip and creating confusion to the employees, if by any chance any employee leaves the company before your registration, and your showing the PF contribution will invite troubles only. Rest is your choice
From India, Ahmadabad
From India, Ahmadabad
Dear Gargi,
You mentioned that your organization is "YET TO APPLY for PF" then why so much confusion. When the organization is not covered under PF - is there any ACT/Law you are referring to wherein you can show "Provision for PF" as a part of Gross Salary? Why is it necessary to show such "Provision" or what is the objective behind such practice?
Also, showing that in salary slip is all togeather a different subject. Salary slip is a documental proof of what an employee earns i.e. his gross income less his share of contribution. Here you are confusing it with CTC where company mentions each and every penny spent on an employee. I say so, because you've mentioned that the Provision is only towards company contribution.
To sum up with seniors, you might invite trouble unless you have enough supporting to prove this practice.
From India, Ahmedabad
You mentioned that your organization is "YET TO APPLY for PF" then why so much confusion. When the organization is not covered under PF - is there any ACT/Law you are referring to wherein you can show "Provision for PF" as a part of Gross Salary? Why is it necessary to show such "Provision" or what is the objective behind such practice?
Also, showing that in salary slip is all togeather a different subject. Salary slip is a documental proof of what an employee earns i.e. his gross income less his share of contribution. Here you are confusing it with CTC where company mentions each and every penny spent on an employee. I say so, because you've mentioned that the Provision is only towards company contribution.
To sum up with seniors, you might invite trouble unless you have enough supporting to prove this practice.
From India, Ahmedabad
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FUTSAL FRIENDZY terms and conditions.doc