I have started an IT firm that goes by the name smartSense Consulting Solutions Pvt Ltd. Following are some queries that I need help with.
1. We are having 10 employees as of now. So is there any kind of threshold, on number of employees or the salary, only after which the PF has to be deducted?
2. We also hired two temporary employees but weren't aware that PF had to be deducted.
Please help me with this. Your advise is appreciated.
From India, Ahmedabad
You have total 10+02 = 12 employees as on today. The day on which you will have 20 employees, PF Act will be applicable to you from that day.
Employees having Basic +DA up to 15000 will be compulsorily covered under the Act.
From India, Mumbai