My company is having more than 600 employees. but we dont have PF & Pension account for our employees although 70% of employee's basic salary is less than Rs. 6500/-. I've joined newly and wanted to introduce the system. Pls guide me the complete procedure step by step. Pls Help.
Just go thru the appended link you will get details about the complete P.F procedure.
As per P.F norms if any company cross the 20 number or + employees it is mandatory to register under the P.F act. About your company it is crossed the basic number more and more, I am really wondering that why your company did not apt either P.F or own exempted trust as of now. Any way don't delay regarding P.F registration start the process, If you consultant any P.R.O in your area P.F office you will get all the information about P.F registration procedure. But you people may get lot of questioning from P.F authorities regarding the late registration until 600 staff members. To my knowledge they may levy penalty charges also, so get ready to face that.
If you want accurate answer for your query you have to wail until our seniors reply.
I wish you all the best.
According to me its too late,they will check even your bank statement,its better to go to the pf office and to meet the pro or the enforcement officer. they will tell you what to do and i think you have to pay from the date of starting the business or when ur staff strength was more than 20.Any way the whole amount should be paid from the employer side.
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