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...
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.
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.

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2021 CiteHR.Comô

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server