Is an employee new to the company who has rs.7500/- basic eligible for PF? what should be done if an employee has basic more than Rs.6500/-?
From India, Ernakulam
From India, Ernakulam
can anyone know how can make PF claim online for transfer. it is complsory due by employee. if any one know anything please tell me the procdure to do that. Atul
From India, Mumbai
From India, Mumbai
Reply to Xtend Technology : -
1. PF ceiling is Rs. 6500/- per month as on date, employees whoever drawing Basic+DA upto Rs. 6500/- will be covered under PF compulsorily.
2. Employees whoever are drawing more than 6500/- per month, their contribution is optional and in this case there are two scenario i.e. : -
(i) If that employee was already covered under EPF scheme and later on his salary has been increased, his membership can not be stopped.
(ii) If you recruit a new employee and fix his Basic+DA more than 6500/- per month & you do not make him EPS member, then its upto you & you can get signed a Form-11 from him to exempt him from EPS Scheme.
Rgds/Jitender
From India, New Delhi
681. PF ceiling is Rs. 6500/- per month as on date, employees whoever drawing Basic+DA upto Rs. 6500/- will be covered under PF compulsorily.
2. Employees whoever are drawing more than 6500/- per month, their contribution is optional and in this case there are two scenario i.e. : -
(i) If that employee was already covered under EPF scheme and later on his salary has been increased, his membership can not be stopped.
(ii) If you recruit a new employee and fix his Basic+DA more than 6500/- per month & you do not make him EPS member, then its upto you & you can get signed a Form-11 from him to exempt him from EPS Scheme.
Rgds/Jitender
From India, New Delhi
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 Judgement - Bom HC - Temp employee.doc