Hr-manager, Trainer, Writer
Agm - Hro, Compensation & Benefit Mgt,
EPF office doesn't say anywhere on its site that those drawing a basic of above Rs.6500/- are exempted. If that be the case the necessity for EPF law doesn't arise at all. We all can get exemption or get escaping without enrolling for a PF code. On crossing 20, it is the duty of every employer to apply for code. Even if the strength falls down to less than 20 after few months, you continue to remit PF for the existing employees. This is where many employers make a mistake and then endup paying a big penalty after few years that is 5-8 times more than the actual EPF remittance.
Also have in mind that PF office sends a copy of the PF code allotment letter to ESI. Based on this your regional ESI office will send an inspector to look into ESI coverage.
At the beginning of a company, Company Advisors usually give wrong advise inorder to save money and that becomes a headache to rectify after some years.
12th August 2012 From India, Madras
13th August 2012 From India, Mumbai
I am willing to hire consultant, and spoken to few. All of them are saying you need bribe to get this done quickly. I do not want to bribe anyone.
Please let me know how can I go about opening the account without any hassels and do bribe free.
13th August 2012 From India, Ahmadabad
As an employer payment of contributions is not exempted ,if employed 20 or more employees and whether basic is more or less than rs. 6500 or the hire numbers falls below 20 after sometime. Here , the payment of employer contributions for more than Rs.6500 pm basic is discretionery of the employer but upto Rs.6500 basic is mandatory and cover all employees under the scheme. Now, the digitisation is in completing stage in EPFO, the payment of contribtutions and submission of returns are happeing online and become more easy. EPFO may bring more awareness in process of administration and with strict vigilence. Registration is not a difficult one you need to meet commissioner in case difficulty, your establishment coverage will come into force from the date of application for registration, it will automatically released. with regard to payment of contributions, you need create record of employees and details of contributions of all employees, in serial order of employment nos, and date of joinings, you need to organise yourself filled in forms form 11 , Form 2, form 5 n 10 .
14th August 2012 From India, Hyderabad