Hi,
I have posted this query in other thread but didn’t get any response. I have the following queries about PF.
From India, Mumbai
I have posted this query in other thread but didn’t get any response. I have the following queries about PF.
- Can any employer discontinue providing PF if an employee after getting increment is earning more than 6,500 basic? What is the procedure for discontinuation?
- If an employee earning more than 6,500 wants to get PF but the employer is not interested to provide, can the employee claim for the same?
From India, Mumbai
Once an employee is covered under PF, his membership is to be continued, even if his basic salary is increased more than Rs.6500/- on account of annual increments .No need to cover any employee under PF, whose basic salary is more than Rs.6500/- p.m on his joining.
Option for coverage of all employees:
1)It is one of the fact that in an organization where one of my fried is working, basic salary of employees, whose basic salary is more than Rs.6500/-, is limited to Rs.6500/- in PF register and PF contribution is being made accordingly.
2)An employee whose basic salary more than Rs.6500/- pm , can also become member of the Fund and the Schemes on joint request .For instance, if an employee is getting Rs.9,500 per month, his share towards provident fund contribution @ 12% will be Rs.1140/- and employer’s share towards provident fund contribution will be Rs.599/- and Rs.541/- towards Employees’ Pension Fund. Please keep in mind that highest contribution towards Pension Fund will be Rs.541/- only.
Regards,
Sivadasan
From India, Udaipur
7Option for coverage of all employees:
1)It is one of the fact that in an organization where one of my fried is working, basic salary of employees, whose basic salary is more than Rs.6500/-, is limited to Rs.6500/- in PF register and PF contribution is being made accordingly.
2)An employee whose basic salary more than Rs.6500/- pm , can also become member of the Fund and the Schemes on joint request .For instance, if an employee is getting Rs.9,500 per month, his share towards provident fund contribution @ 12% will be Rs.1140/- and employer’s share towards provident fund contribution will be Rs.599/- and Rs.541/- towards Employees’ Pension Fund. Please keep in mind that highest contribution towards Pension Fund will be Rs.541/- only.
Regards,
Sivadasan
From India, Udaipur
Dear sonai for your first queary what govind singh told is right.
comming to second queary if employee wnats to PF just you can deduct the both contributions from his salary based on CTC.i.e., you can decries his salari what you offer and paid your remaining salary through PF contribution. Cost ot Company formula is based on this. in this CTC both contributions are came from Employee side.accoding to this both employee and employer is happy.
From India, Visakhapatnam
comming to second queary if employee wnats to PF just you can deduct the both contributions from his salary based on CTC.i.e., you can decries his salari what you offer and paid your remaining salary through PF contribution. Cost ot Company formula is based on this. in this CTC both contributions are came from Employee side.accoding to this both employee and employer is happy.
From India, Visakhapatnam
Dear SONAI, I fully agree with the comments given by Mr.Govnd singh Negi. Regards, R.N.Khola
From India, Delhi
From India, Delhi
Dear All,
Can anyone tell me that for PF coverage which employees are covered, is trainees or offroll employees are coverred for PF coverage.
Is basic salary of the employee at the time DOJ is more than Rs.6500/- is covered for PF registration for Compnay.
We have 27 Employees
01) 05 Trainees
02) 05 Not on Pay Roll
03) 07 Basic salary @ DOJ is more than Rs.6500/-
04) 10 Basic Salary is less than Rs.6500/-
Now my query is we have to take the PF registration or not.
Please guide me.
Awaiting favourable reply from anyone of you.
Regards,
Sanjay Bhatt
Sr.Ex.Accounts
Hyderabad.
From India, Hyderabad
Can anyone tell me that for PF coverage which employees are covered, is trainees or offroll employees are coverred for PF coverage.
Is basic salary of the employee at the time DOJ is more than Rs.6500/- is covered for PF registration for Compnay.
We have 27 Employees
01) 05 Trainees
02) 05 Not on Pay Roll
03) 07 Basic salary @ DOJ is more than Rs.6500/-
04) 10 Basic Salary is less than Rs.6500/-
Now my query is we have to take the PF registration or not.
Please guide me.
Awaiting favourable reply from anyone of you.
Regards,
Sanjay Bhatt
Sr.Ex.Accounts
Hyderabad.
From India, Hyderabad
Dear Sanjay, You have to take PF code irrespective of how many employees having wages more than 6500. The overall sum of employees should be more than 20 for eligible of PF Code. Best Regards
From India, Nagpur
From India, Nagpur
Dear i am giving your query answer. we can enroll employee in PF more than 20 employee if you have more than 20 employee in your organisation so you can take those employee in PF otherwise not
Regards,
Deepak Nigam
HR- Executive
Kota
From India, Jaipur
Regards,
Deepak Nigam
HR- Executive
Kota
From India, Jaipur
An employee who has got increament...that is more than salary6500now for that earlier he was coming in PF range now if he is not coming than we have to discontinue his PF service by filling form number 10 and remove him from PF service as soon as possible.
From India, Mumbai
From India, Mumbai
Dear SanjayBhatt,
As per factory act you need to register the company if the strength of the employees goes beyond 20.
In your case you have projected the below attachment
01) 05 Trainees
02) 05 Not on Pay Roll
03) 07 Basic salary @ DOJ is more than Rs.6500/-
04) 10 Basic Salary is less than Rs.6500/-
PF Is compulsory even if he is a trainee and not on pay rolls.
So considering this your strength remains to be 27 so you are required to have the PF deduction for all those eligible.
Thanks and Regards
NSB
From India, Bangalore
As per factory act you need to register the company if the strength of the employees goes beyond 20.
In your case you have projected the below attachment
01) 05 Trainees
02) 05 Not on Pay Roll
03) 07 Basic salary @ DOJ is more than Rs.6500/-
04) 10 Basic Salary is less than Rs.6500/-
PF Is compulsory even if he is a trainee and not on pay rolls.
So considering this your strength remains to be 27 so you are required to have the PF deduction for all those eligible.
Thanks and Regards
NSB
From India, Bangalore
Dear Friends,
Our company has not yet started PF contributions to the Employees, as company's commercial operations are not yet started. Now, we are planning to introduce PF to the employees. But some of the employees are crossed their Basic Salary of Rs.6,500/-. Then is it mandatory to cover them under PF Act.
Waiting for your replies.
Murali
From India, Hyderabad
Our company has not yet started PF contributions to the Employees, as company's commercial operations are not yet started. Now, we are planning to introduce PF to the employees. But some of the employees are crossed their Basic Salary of Rs.6,500/-. Then is it mandatory to cover them under PF Act.
Waiting for your replies.
Murali
From India, Hyderabad
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