Dear All,
My current company is covered under EPF Act. but some of our employees dont want to deduct the pf anymore (They all are above the limit of 6500/-). What would be the required steps for this procedure. Which form we need to fill for this . Is this form 11 or what.
From India, Lucknow
2My current company is covered under EPF Act. but some of our employees dont want to deduct the pf anymore (They all are above the limit of 6500/-). What would be the required steps for this procedure. Which form we need to fill for this . Is this form 11 or what.
From India, Lucknow
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Hi Once the employees are covered under the PF then there is no any provision to stop or cancel the PF contribution. Only thing is you shall restrict it to 6500/-
From India, Bangalore
From India, Bangalore
Deepika,
Only way is you can stop paying the PF For those employees from next month. But PF Inspection happens to companies once in a while [Atleast once in 5 years] and during that time they will ask you to submit the Payroll data as well. They will match the Payroll data and the PF Contribution part. If there is any difference, They will just send a letter stating that you have a difference of XYZ amount, and you have to pay[ You in the sense, Company has to pay] both the Employer and employee contribution along with the Interest [Penalty interest rate with EPFO is too high].
Hence, I shall suggest to talk to the individuals, Convince them [Rather EDUCATE them] about the goodness and advantages of Having PF Deducted.
At any cause, do not try to relieve from PF Deduction. Take a fatherly step to make them understand, be strict, deduct. After all, they are going to have the benefits.
From India, Coimbatore
Only way is you can stop paying the PF For those employees from next month. But PF Inspection happens to companies once in a while [Atleast once in 5 years] and during that time they will ask you to submit the Payroll data as well. They will match the Payroll data and the PF Contribution part. If there is any difference, They will just send a letter stating that you have a difference of XYZ amount, and you have to pay[ You in the sense, Company has to pay] both the Employer and employee contribution along with the Interest [Penalty interest rate with EPFO is too high].
Hence, I shall suggest to talk to the individuals, Convince them [Rather EDUCATE them] about the goodness and advantages of Having PF Deducted.
At any cause, do not try to relieve from PF Deduction. Take a fatherly step to make them understand, be strict, deduct. After all, they are going to have the benefits.
From India, Coimbatore
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