Amitmhrm
Hr Practices
ChaitaliS
Senior Executive - Hr
Khyat
Student
Joshua
Hr Generalist
Jayarajan
Hr Executive
K2HR
Hr Head

IF YOUR CO OFFERS YOU TWO COMPENSATION PACKAGES ONE WITH PF AND OTHER W/OUT PF ( THE PF AMT BEING ADJUSTED AS PERFORMANCE BONUS) ...WHICH 1 WOULD U GO FOR AND WHY??????????
2nd May 2007 From India, Khopoli
Dear .....,
How one can offer another package i.e without PF as it is a Govt. regulatory body and if he is registered with PF Act, then one can't go beyond the Govt. rules. So second one is not not possible one can't merge your PF amount with peformance Bonus.
Regards,
Amit Seth.
2nd May 2007 From India, Ahmadabad
Hello, PF is something mandated by Labor Law in India, the provision for which applies to any company that has 20 or more people. Can you rephrase your question ? Joshua
2nd May 2007 From India, Bangalore
hi Joshua wat i mean is that I have heard that there are some cos sppcly it which offer its ee two salary structures ...one is with pf in which the ee as well as er contribute equal amnt....(which is the normal trend) but in the other scheme neither the co nor the ee has to pay pf and the amnt of pf one wld have earned in a year will be up for grabs as bonus...If u meet the perf std set for u u will get it as bonus,,,,Moat of the ee i have heard opt for this
2nd May 2007 From India, Khopoli
Hi All
PF is mandatory for a employee who PF wages, i.e. Basic + DA wages is less than 6500. For all those whose Basic+DA salary is more than 6500/-, it is optional for the employee to have PF deductions or not.
Ideally, in Comp & Benf, while CTC calculation is made, PF is not adjusted in the Performance Incentive but equally divided in all Salary Head or added in any one Salary head.
Regards
Ketan
2nd May 2007 From India, Mumbai
Hi,
Ketan is very much right..
PF is optional for the employees whose salary exceeds limit of 6500/-. it is not mendatory for him/her to go for PF deduction...He can start PF deduction afterwards also during service...but PF deduction started once can not be discontinued...
The thing which you are talking about is not possible as per Law...Pf amount can be withdrwed after one resigns/retires...not when he is continue in his service...The contribution which you are talkin about might be some policy your company has formed....may be to encourage savings!.. :-)
Rgds,
Chaitali...
2nd May 2007 From India, Vadodara
Hi, Do u mean to say that the employees with basic +da , above 6500, can opt to go for PF or without it? Pls. explain? Regards Jayaraj
4th May 2007
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