I am working as a Manager - personal in a private company. My company is a part of our Group Company. It is understand from the Companies Act, one person can be employed as Managing Director for more than one company.
Also he is eligible for remuneration from both the company as per the Board Resolution.
In such case, How the PF contribution and family pension will be remitted to their Managing Directors. whether they were allowed for 2 different PF Nos. for each company.
Kindly clarify the same.
WIth Regards
M.Suriyanarayanan
From India, Madras
1Also he is eligible for remuneration from both the company as per the Board Resolution.
In such case, How the PF contribution and family pension will be remitted to their Managing Directors. whether they were allowed for 2 different PF Nos. for each company.
Kindly clarify the same.
WIth Regards
M.Suriyanarayanan
From India, Madras
Hi
Whether A Managing Director has the eligibility for PF?
If so his ranking for PF can b considered at main office than the subsidiary of group companies.
Any one pl clarify abv
Tnks & Best Regds
Senthil
From India, Tiruppur
Whether A Managing Director has the eligibility for PF?
If so his ranking for PF can b considered at main office than the subsidiary of group companies.
Any one pl clarify abv
Tnks & Best Regds
Senthil
From India, Tiruppur
I think Managing Director is not eligible for PF Contribution, in our company we are not deducting PF from Director Remuneration. I request to all to clarify in this matter Thanks in Advance
From India, Hyderabad
From India, Hyderabad
Hai
One person can be Managing Director for more than one caompany, but they are paying it is in the remuneration, they have to pay the Profession Tax only, and in the Comeercial Tax they have to pay Rs 2500/ as Directors fees per year. Regarding Provident fund can keep any employee more than one account but after completion of the 10 years of service he can eligilble for pension, but pension can not claim
From India, Secunderabad
One person can be Managing Director for more than one caompany, but they are paying it is in the remuneration, they have to pay the Profession Tax only, and in the Comeercial Tax they have to pay Rs 2500/ as Directors fees per year. Regarding Provident fund can keep any employee more than one account but after completion of the 10 years of service he can eligilble for pension, but pension can not claim
From India, Secunderabad
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.
PF - JT BK ACCOUNT ACCEPTABLE.pdf