Dear Seniors, I am working in a Pvt.Ltd. Company, i want your help on pf deduction, A senior in person working in our company from august 2017, his age 57 year old.we have not deduct his pf til month, but now we want to deduct his pf, I can deduct his pf or not if yes then any compliance on past service period. Please help me.
Dear Friend,
If he is not excluded employee in pf, then you have to deduct his PF from DOJ, otherwise, whenever your company audited,liability applies from his DOJ.
At reaching the age 58, you have to stop contribution towards pension and contribute his 8.33 (employer share) in PF account.
If your employer is covered under PF, PF deduction has to be compulsorily from day one of employment. If you want to back date it and pay, you can pay as arrear PF with penalty and interest charges based number of years of service. Or you pay presenting as if addition of new employee. But employee will be the looser.
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