I am working in a manufacturing company as an Hr Manager we want to start PF for our workers, But I want to know If we Started PF for Them Is there Any issues of Union Or other Issues From The workers side, Please Guide me.
From India, Pune
2From India, Pune
PF is a statutory liability and is the responsibility of the management to implement it. You need not seek the agreement of Union to introduce PF. How long you have been working??, PF authorities are likely to insist on PF coverage from the day the coverage occurred.
From India, Mumbai
From India, Mumbai
Thanks For Guiding me..... but sir we already pay them other facilities like incentive.... etc but our MD side if we start Pf for them we stop giving incentive. i want to know Is the incentive is the Better option or PF
Regards
Madde Up
From India, Pune
Regards
Madde Up
From India, Pune
1. If the monthly salary paid to your employees are less than Rs. 15,000/-, the nature of your industry is specified in Schedule -1 of the PF Act and the employee is strength is twenty or more, then PF coverage ought to be there. Pl respond with the position in this regard.
2. Incentive is no alternative to PF. PF is to provide for the institution of provident funds, pension fund and deposit-linked insurance fund for employees and is an investment made for post retirement life while incentive is paid concurrently with employment and it depends on him to make any savings for future.
3. If you are not meeting the criteria in point no.1, still PF can be applied on voluntary basis but the procedure is separate.
Pl clarify the position, then further details can be shared.
From India, Mumbai
2. Incentive is no alternative to PF. PF is to provide for the institution of provident funds, pension fund and deposit-linked insurance fund for employees and is an investment made for post retirement life while incentive is paid concurrently with employment and it depends on him to make any savings for future.
3. If you are not meeting the criteria in point no.1, still PF can be applied on voluntary basis but the procedure is separate.
Pl clarify the position, then further details can be shared.
From India, Mumbai
Respected Sir, Our employee Strength is 25, we are providing salary to them minimum 6700 P. M+ other allowances. Our Nature of business is we are manufacturing cashew nuts processing machinery.
From India, Pune
From India, Pune
You are obviously under PF coverage, and it is effective from the day you had 20 or more employees. The PF officials would ask for proof so keep all your registers and other documents to prove this fact.
From India, Mumbai
From India, Mumbai
Even incentive you may find it difficult to stop as union will object as it has become a part of their pay package.
Incentive cannot be i/l of PF which is a statutory requirement.
Pl take care and handle it carefully.
From India, Pune
Incentive cannot be i/l of PF which is a statutory requirement.
Pl take care and handle it carefully.
From India, Pune
Thanks All,
But actually I M also A Fresher In HR field So i Don't know how to start the Pf process so can you please share it with me if anyone have PDF please Share with me.......
Regards
Madde Up
From India, Pune
But actually I M also A Fresher In HR field So i Don't know how to start the Pf process so can you please share it with me if anyone have PDF please Share with me.......
Regards
Madde Up
From India, Pune
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls