Greetings to All,
My name is Sangeeta. I recently joined an organization as an AM-HR. However, I have a doubt regarding PF deduction. My organization was established in July 2013 but has not enrolled for PF yet. Still, management is asking to deduct PF for employees.
Could someone kindly provide guidance on how to proceed with this and what the exact procedure is?
Regards,
Sangeeta
From India, Hyderabad
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My name is Sangeeta. I recently joined an organization as an AM-HR. However, I have a doubt regarding PF deduction. My organization was established in July 2013 but has not enrolled for PF yet. Still, management is asking to deduct PF for employees.
Could someone kindly provide guidance on how to proceed with this and what the exact procedure is?
Regards,
Sangeeta
From India, Hyderabad
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Dear Sangeetha,
It is not advisable to deduct the PF until unless you enroll to PF or started the enrollment process. For PF deduction, you should calculate 12% on the basic up to Ceiling of 6500 and pay the same contribution of employer contribution with additional admin charges of 1.61%.
There are many discussions in the same blog regarding PF calculations and sample salary statements too.
From India, Bangalore
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727It is not advisable to deduct the PF until unless you enroll to PF or started the enrollment process. For PF deduction, you should calculate 12% on the basic up to Ceiling of 6500 and pay the same contribution of employer contribution with additional admin charges of 1.61%.
There are many discussions in the same blog regarding PF calculations and sample salary statements too.
From India, Bangalore
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Hello,
Even though the company was started only in July 2013, if the number of employees is 10 or more (new amendment for the number of employees in 2013), the company has to obtain a PF code. In the meantime, they can recover from you and add their contribution, and take a DD every month in favor of the PF department. They should submit the same along with a covering letter informing about the pending PF code. Remittance is made through DD. Upon allotment, they have to register online, update all employee details from day one, and file PF_ECR for every month against the DD submitted.
From India, Chennai
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Even though the company was started only in July 2013, if the number of employees is 10 or more (new amendment for the number of employees in 2013), the company has to obtain a PF code. In the meantime, they can recover from you and add their contribution, and take a DD every month in favor of the PF department. They should submit the same along with a covering letter informing about the pending PF code. Remittance is made through DD. Upon allotment, they have to register online, update all employee details from day one, and file PF_ECR for every month against the DD submitted.
From India, Chennai
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Dear Sangeeta,
How many employees are there in your organization, whether it is a private limited company or a partnership firm? Can you please provide the details?
Thanks & Regards,
Murthy
(Payrolls, PF, ESI, PT, Labour Consultant)
Mobile: 9849709546
Email: klncs@yahoo.co.in
From India, Hyderabad
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How many employees are there in your organization, whether it is a private limited company or a partnership firm? Can you please provide the details?
Thanks & Regards,
Murthy
(Payrolls, PF, ESI, PT, Labour Consultant)
Mobile: 9849709546
Email: klncs@yahoo.co.in
From India, Hyderabad
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