Dear friends,
Please help me with the PF eligibility. I understand that the individual drawing basic pay of Rs 6,500 or less is eligible for PF deduction, and the company should register for PF if its number of employees exceeds 20.
The company I am working with has employed nearly 55 employees, out of which 15 are on the company payroll, and the rest work on another payroll. In this case, should the company register for PF?
Please help me out with this, friends.
Regards,
Chaitrali
From India, Pune
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6Please help me with the PF eligibility. I understand that the individual drawing basic pay of Rs 6,500 or less is eligible for PF deduction, and the company should register for PF if its number of employees exceeds 20.
The company I am working with has employed nearly 55 employees, out of which 15 are on the company payroll, and the rest work on another payroll. In this case, should the company register for PF?
Please help me out with this, friends.
Regards,
Chaitrali
From India, Pune
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Hi Chaitrali,
Greetings from VSP HR Consultants.
To avoid PF coverage, some companies maintain their employee strength below 20 in different accounting heads and payrolls. However, if the PF auditing officers find out the actual strength during inspection after scrutinizing the accounts transactions and balance sheet, the company has to pay the PF contributions along with penalties.
Thanks & Regards,
R. Somasundaram
VSP HR Consultants
Email: vsphrconsultants@yahoo.in
Phone: 99523 55685.
From India, Madras
Acknowledge(0)Amend(0)
Greetings from VSP HR Consultants.
To avoid PF coverage, some companies maintain their employee strength below 20 in different accounting heads and payrolls. However, if the PF auditing officers find out the actual strength during inspection after scrutinizing the accounts transactions and balance sheet, the company has to pay the PF contributions along with penalties.
Thanks & Regards,
R. Somasundaram
VSP HR Consultants
Email: vsphrconsultants@yahoo.in
Phone: 99523 55685.
From India, Madras
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