If staff is laid off due to economic crisis - but pays the staff in lieu of notice period (3 months salary)are we liable to pay PF for the 3 months or only for the month in which exit is processed ?
ex: an employee's gross salary is Rs.20000/ month - during layoff we are paying them Rs. 60,000 and deducting PF only for one month. Similarly, company is also employer PF contribution for one month. Is this correct?
From India, Bengaluru
ex: an employee's gross salary is Rs.20000/ month - during layoff we are paying them Rs. 60,000 and deducting PF only for one month. Similarly, company is also employer PF contribution for one month. Is this correct?
From India, Bengaluru
What do you mean by lay off? Why are you paying Rs 60000 when the salary is Rs 20000 pr month? Do you mean to say that you have retrenched the workers?
From India, Kannur
4246From 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.
Online payment of PF mandatory from 1.1.2016.pdf
Jan 14 - Staff Salary Income and Payment.xls