No Tags Found!

mahalakshmi.v1234@gmail.com
Dear All,
In our company the management is planning to remove PF deduction for the employees whose Basic is more than 6500 pm. Please suggest me whether can we remove the PF account for the employees whose PF account already exist. or Is their any alternative way to stop PF deduction.
Regards,
Mahalakshmi

From India, Bangalore
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Tsivasankaran
Consultant
Akhil.Gupta
Hr Professional With 13 Years Of Exp.
Subbarao.v
Esi & Pf Consultant
Jrn.moorthi
Professional
Mangai
Hr Professional
+7 Others

tsivasankaran
367

It will be difficult if you have already started this practice Literally you will be reducing the Compensation. It requires acceptance by employees It will generate dissatisfaction. I have not examined the legality of this so far.
From India, Chennai
HR Hiral Mehta
204

Dear Mahalakshmi,
PF contribution CANNOT be stopped once started even when the Basic exceeds Rs. 6500/- You can offer new incumbent an option to opt in or opt out of PF if the Basic is more then Rs. 6500/-.

From India, Ahmedabad
mangai
7

Dear Friends,
Up to my knowledge, there is no option for removing PF deduction if an employee is under regular scales of pay. We can only restrict the contribution to Rs.780/- up to the wages of Rs.6500/-p.m.
Mangai
Chennai

From India, Chennai
mahalakshmi.v1234@gmail.com
Thanks for your Support. Can you please help me out if the empolyee is not opting for PF then what would be the procedure. Whether Form 11 supports for the same. Regards, Mahalakshmi
From India, Bangalore
HR Hiral Mehta
204

Dear Mahalakshmi, Yes! Form 11 is mandatory for the company to keep for their records for all those employees opting out of PF.
From India, Ahmedabad
gainknowledge555
34

Dear Mahalakshmi, There is no provision in the EPF Act to stop coverage of employees irrespective of their basic salaries once their contribution is started in the organization. Regards, Suresh
From India, Bangalore
jrn.moorthi
8

No such provision for stop recovery and deposit of PF Contribution to PF Authorities. Once Company has started, no provision for the Employer and Employee for stop payment of EPF Contribution. Only for the new joinees the exercise is optional provided there Basic + DA is more than Rs.6500/- p.m. for such cases, the employees has to submit in the prescribed FORM-II giving all the details.
Moorti

From India, Delhi

Attached Files (Download Requires Membership)
File Type: pdf 10 FACT YOU NEED TO KNOW OF EPF.pdf (102.9 KB, 859 views)

lmananthapur
8

Dear Mahalakshmi,
PF is mandate and its monitered by Central Govt. Act called Employees Provident Fund Act, 1952. As per Act the Management must pay PF for the Basic Salary of Employee. If employee exceeds Rs.6,500/- the management no need to exceeding amount of employees salary.
There is another proposal is pending at Govt. level that Management has to pay PF for their Salary for entire amount, even exceeding Rs.6,500/-.

From India, Kurnool
ashvan.2927@gmail.com
175

Hello Madam,
For employee satisfaction you needs to inform all your employees and same you needs to inform concern PF office for the same and take written approval from concern PF commissioner.
Thanking you,
Regards,
Ashish

From India, Pune
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.






Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2023 CiteHR

All Copyright And Trademarks in Posts Held By Respective Owners.