How to remit the pf compliance for sub contractors which don’t have Pf code. ? Is it correct way to deduct 60%*40%*25.15%(pf) on total bill.
From India, undefined
From India, undefined
By merely deducting PF amount from bill you can't say that you are compliant on the Act, the deducted amounts should be credited to the respective contract employees. For this they must have PF account. The amount should be deducted @ 12% of basic+DA paid. As you know, you dont have to calculate, the site will do it.
From India, Mumbai
264From India, Mumbai
The apportionment between 60/40% depends on how much is the labour/material/machinary/ other infrastructural content in the work order. If it is only labour supply then the PF authorities insist on higher PF contribution. The question is whether by 60:40 apportionment are the labourers getting at least minimum wages and the PF coverage thereon? If it is not so please enhance the wage component suitably so that PF coverage is ensured on Minimum Wages (Basic+DA)
From India, Mumbai
From India, Mumbai
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