Hi,
In my company, PF contributions are paid to employees whose basic salary is less than Rs. 6500/- which is the statutory rule. After the latest appraisal the basic salary of some employees who fall under PF has increased beyond Rs.6500/-. Can I discontinue their PF and what is is the process for this while submitting the PF returns?
From India, Kochi
In my company, PF contributions are paid to employees whose basic salary is less than Rs. 6500/- which is the statutory rule. After the latest appraisal the basic salary of some employees who fall under PF has increased beyond Rs.6500/-. Can I discontinue their PF and what is is the process for this while submitting the PF returns?
From India, Kochi
Hi!
Employee who while joining the organisation has a basic salary above Rs 6501/- have an option to either become or avoid becoming member of Provident fund
but employees whose basic salary while joining the organisation is less then Rs 6501/- but after some period of time their basic increases above Rs 6501/- have to compulsorily continue to be member of provident Fund.
Asmita Bhalla
Atmik Consultancy services
9867289880
From India, Mumbai
1Employee who while joining the organisation has a basic salary above Rs 6501/- have an option to either become or avoid becoming member of Provident fund
but employees whose basic salary while joining the organisation is less then Rs 6501/- but after some period of time their basic increases above Rs 6501/- have to compulsorily continue to be member of provident Fund.
Asmita Bhalla
Atmik Consultancy services
9867289880
From India, Mumbai
Dear All,
I am fully agreed with Asmita Bhalla that
employees whose basic salary while joining the organisation is less then Rs 6501/- but after yearly increment their basic increases above Rs 6501/- have to compulsorily continue to be member of provident Fund. but do not dudect PF on full basic deduct only on Rs. 6500/- eg. if increased basic Rs. 7500/- you can deduct PF only on Rs6500/-
Akram Inamdar
Sr.Manager-HR
From India, Patna
I am fully agreed with Asmita Bhalla that
employees whose basic salary while joining the organisation is less then Rs 6501/- but after yearly increment their basic increases above Rs 6501/- have to compulsorily continue to be member of provident Fund. but do not dudect PF on full basic deduct only on Rs. 6500/- eg. if increased basic Rs. 7500/- you can deduct PF only on Rs6500/-
Akram Inamdar
Sr.Manager-HR
From India, Patna
Hi,
In Simple word Once the PF is started cannot be stopped unless an untill the employee resign the organisation and withdraw his PF
Chandrakant Vishwakarma
9820592842
( Labour law & IR Consultant.)
From India, New Delhi
In Simple word Once the PF is started cannot be stopped unless an untill the employee resign the organisation and withdraw his PF
Chandrakant Vishwakarma
9820592842
( Labour law & IR Consultant.)
From India, New Delhi
In that Case , deduction will on 6500 only and rest of deduction transfer to the EPF account.
From India, Calcutta
From India, Calcutta
Employer need to pay pf contribution upto Rs.6500/- over and above is not statutory, but anyhow if employer wants to pay pf contribution above 6500 is at his own descretion. But it is statutory to pay PF Contribution on 6500, no employer can completly avoid employer's pf contribution to his employees who's basic salary is above 6500.
Regards
Srujana
From India, Hyderabad
Regards
Srujana
From India, Hyderabad
Dear all, As you all are aware about the minimum wages has been increased So now the basic pay should be the equal to the minimum wages or the Total salary shouled be the equal to minimum wages ?
From India, Delhi
From India, Delhi
As per the P.F rules, if employees are non excluded employees of pf during the time of joining, they can't be come under "excluded employees" category even if their basic salary is higher then prescribed limit.
And in this case even their basic salary is more than 6500 we have to consider 6500 for pf deduction or what ever it is, Co. can select either of the option for deduction of pf (1.6500, or 2. what ever the basi)
From India, Kalyan
And in this case even their basic salary is more than 6500 we have to consider 6500 for pf deduction or what ever it is, Co. can select either of the option for deduction of pf (1.6500, or 2. what ever the basi)
From India, Kalyan
Hello,
While joining the establishment, if employees' salary(Basic+Dearness Allowance) is excess of Rs 6500/-, he or she has an option to join or not to join under Employees Provident fund scheme.
However, employees whose basic salary while joining the organisation is less then Rs 6500 or less but during the course of employment over a period of time their basic increases above Rs 6500/- have to compulsorily continue to be member of provident Fund.
Thanks n regards
Shesh Nath Singh
9443328010
From India, Erode
While joining the establishment, if employees' salary(Basic+Dearness Allowance) is excess of Rs 6500/-, he or she has an option to join or not to join under Employees Provident fund scheme.
However, employees whose basic salary while joining the organisation is less then Rs 6500 or less but during the course of employment over a period of time their basic increases above Rs 6500/- have to compulsorily continue to be member of provident Fund.
Thanks n regards
Shesh Nath Singh
9443328010
From India, Erode
If employees joined below 6500 as (basic+DA) after he resigned and not withdrawl pf amount, he wants to transfer from pervious to present org.. where the present org is in option of 6500/(basic+Da) limit i.e less than 6500 covered, annd above 6501 not covered. can employee continues the pf contribution in present company if his basic+da above 6501?
From India, Hyderabad
From India, Hyderabad
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Employee Appraisal Form new.doc