Manojkamble
Sr. Hr Executive
Consultme
Entrepreneur
Manojhrs
Works At Karvy Stock Broking

If in any case, the F&F is processing after one or two-month delay, then is it really necessary to deduct ESI, PF & PT from the F&F amount, and if yes then please share the best industry practices process...
2nd November 2017 From India, Bhubaneswar
PF, ESI, PT etc. are mandaory deductions for the period which an employee worked. Whether you pay the money today or settle later, it has to be deducted and deposited to concerned statutory agencies.
2nd November 2017 From India, Bangalore
Dear Manoj,
Yes, it is mandatory to deduct PF, ESIC and PT in F&F also. Eventhough you are processing final F&B after 1 or 2 months you need to process the due salary in the same month along with your normal employees in salary register. Thus you will be able to comply with all the statutory deductions. Also, still if you found any deduction is due then you can deduct from F&F amount of ask the employee to pay the shortfall. Hope this will resolve your query.
2nd November 2017
Add Reply Start A New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)





About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™