Dear yedol,
Here is the correct answer for you.
To your company PF Act is applicable from the date you have total 20 and more employees on roll, even on single day, irrespective of salary limit.
Employees those who have basic & DA more than Rs. 6500/- can be excluded from PF under certain circumstances. Suppose all the employees are in the excluded category, then also you are liable to obtain PF Code and make remitance of Rs. 7/- every month.
This topic is discussed earlier many times. You are requested to do research of same. You can get on research the Form 11 and an undertaking from excluded employees. If you do not get it, please hire my services on commercial contract. I can guide you on many things which are applicable to you, not limiting to PF only.
From India, Mumbai
2556Here is the correct answer for you.
To your company PF Act is applicable from the date you have total 20 and more employees on roll, even on single day, irrespective of salary limit.
Employees those who have basic & DA more than Rs. 6500/- can be excluded from PF under certain circumstances. Suppose all the employees are in the excluded category, then also you are liable to obtain PF Code and make remitance of Rs. 7/- every month.
This topic is discussed earlier many times. You are requested to do research of same. You can get on research the Form 11 and an undertaking from excluded employees. If you do not get it, please hire my services on commercial contract. I can guide you on many things which are applicable to you, not limiting to PF only.
From India, Mumbai
Thanks for the above info, I have another Query - few employees PF deductions has been done in their previous company,a PF deduction has been done in their prev company then do we have to fill the PF forms again in the new(current) company or they can opt out of PF as their Basic+D.A is more then 6500 P.M in new Co. ?
From India, New Delhi
From India, New Delhi
Dear Yedol,
Once a person is a member of PF, he is a member of PF till last, unless there is a break in his service for more than 2 months and has settled his previous PF account. Member of PF has no option to opt out of PF. In new employment he has to submit Form 13 for transfer of his previous accumulations. Form 2 i.e. Declaration & Nomination is to be filled in. Form 11 is to be taken from all the employees.
From India, Mumbai
Once a person is a member of PF, he is a member of PF till last, unless there is a break in his service for more than 2 months and has settled his previous PF account. Member of PF has no option to opt out of PF. In new employment he has to submit Form 13 for transfer of his previous accumulations. Form 2 i.e. Declaration & Nomination is to be filled in. Form 11 is to be taken from all the employees.
From India, Mumbai
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