Manager, Human Reaources
+1 Other

Hi all, IF an employee joined the company at the age of 60yrs, he is eligible or not eligible to deduct PF amount. what is act say in this regard kindly explain me the above subject rgrds ram
10th March 2007 From United States, Southfield
Dear Ram
EPF deduction will depend on employement contract, he is being employed as consultant , permant staff or contractual staff.
For consultants no PF deduction is necessary. You just have to deduct the service tax.
For permant staff you need to deduct PF. Statutory complaince is that you upto inr 6500 of basic salary you need to deduct pf @ of 12% after that it is optional whether u deduct it is on 6500 or greater salary.
12th March 2007 From India, Gurgaon
Dear Ram,
I have some doubts that what is about shweta saying.
If the employee is on your payroll you must deduct his PF by law. If you know about the inspection criteria of PF department then can check your each voucher for payment.
The employee having age more than 58, is liable to deduct PF, but not pension fund. From his deudction there will be contribution to pension fund account.
Prashant Patil
12th March 2007 From India, Nagpur
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