Hi, We are an IT company based in Gujarat. Now, we recently crossed the 20 employee mark and thus the management decided to start PF contribution.
As of today, NONE of our employees has a basic salary of less than Rs. 6500/-, except for a couple of trainees. But there are several employees whose Basic was less than Rs.6500/- at the time they joined (PF was not applicable at the time they joined) So, do we become liable to pay PF, if we register now?
From India, Mumbai
As of today, NONE of our employees has a basic salary of less than Rs. 6500/-, except for a couple of trainees. But there are several employees whose Basic was less than Rs.6500/- at the time they joined (PF was not applicable at the time they joined) So, do we become liable to pay PF, if we register now?
From India, Mumbai
Hi Ms. Megha
IT industries are covered under ESI as well as PF if the employee strength reaches 10 employees. Your assumption of 20 is not correct. If the total employees employed in an organisation is 10 and above and even in there is one employee who's earning the wages of less than 6500/- then the organisation is to be covered.
Once if any employee is covered under PF and even after the wages exceeds 6500/- still that employee is eligible for PF coverage
From India, Bangalore
633IT industries are covered under ESI as well as PF if the employee strength reaches 10 employees. Your assumption of 20 is not correct. If the total employees employed in an organisation is 10 and above and even in there is one employee who's earning the wages of less than 6500/- then the organisation is to be covered.
Once if any employee is covered under PF and even after the wages exceeds 6500/- still that employee is eligible for PF coverage
From India, Bangalore
Hello Ms. Megha, An organization which has employee strength of minimum 20 employees can register for Provident Fund (PF) with the respective regional PF department. An establishment which does not fulfill the required number of employees can voluntarily register with the regional PF department personally. Once an establishment reaches the mark of 20 employees it should not delay in starting the registration process with the PF department, otherwise it might attract penalty.
KPS Consultants
From India, Delhi
KPS Consultants
From India, Delhi
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Basic 4 pf.pdf