but organisation concern it is mandatory. To my knowledge they can get exemption from P.F in case they maintain separate trust towards employee superannuation fund . I think they need to submit lot of documentation for getting exemption.
I am sure our seniors will give you appropriate answer for your query, wait for some time.
I wish you all the best.
but for an organisation if Employee's are more than 20, then it is compulsory applicable to an organisation, however the organisation can request the EPFO Dept for Maintaining PF a/c on its own, & required to submit the all necessary documentation.
If organisation is found to be doin fraud then it is withdrawn back from employer...
An employee may not subscribe to the EPF scheme provided :
1. If Basic+Da/FDA/VDA+ Cash Value of Food Concessions exceeds the limit of Rs 6500/m
2. In Past, he has never subscribe to the scheme
To do the above , an employee needs to fill in Form 11.
An Employer :
Can apply for exemption provided :
1. if majority of the employees give a declaration that they do not want to subscribe to the provisions of the scheme.
2. If employer is providing better benefits than what is provided under the provisions of the act EPF & Miscellaneous Act 1952.
Such establishements are called exempted establishment and a trust under Trust Act is created and the funds are maintained by the employer accordingly.
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LJ & Associates
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