I have extracted the following information from the PF- A startup is exempt from PF for up to 3 years from the date of starting. But our consultants are telling me that no company comes under PF act, and when you reach 20 employees, it is applicable to you, whether it is from day one or after. Kindly guide me in this regard, and if you have such information written somewhere, then kindly share the PDF or link so that I can go through the same.
From India, Mumbai
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12From India, Mumbai
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The principal Act had a provision that provided infancy protection for 3 years, but it has been deleted. Now, it is applicable from the day on which the number of your employees reaches 20. Please refer to any of the latest bare Acts on the Provident Fund and Misc. Provisions Act for details.
From India, Kannur
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From India, Kannur
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Your company must register with the Provident Fund (PF) after employing a minimum of 20 employees, and PF contribution becomes compulsory. However, if you hire new employees who do not have a previous Universal Account Number (UAN), you can register them under the Pradhan Mantri Rojgar Yojana (PMRY), where the employer's contribution is covered by the government up to a specified timeline.
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