Hi, Please help me for recover amount from employee.
Our company has working is service industry and our client has debited large amount due to mistake of our employee. We have deducted evry month some small amount from employee monthly salary, accordingly monthly deduction will take upto 5 years for recover full debit amount. If employees has abscond from duty, company will face financial loss. Company can hold or stop PF withdrawal process till recovery amount received or any other idea for recover it.
From India, Pune
1Our company has working is service industry and our client has debited large amount due to mistake of our employee. We have deducted evry month some small amount from employee monthly salary, accordingly monthly deduction will take upto 5 years for recover full debit amount. If employees has abscond from duty, company will face financial loss. Company can hold or stop PF withdrawal process till recovery amount received or any other idea for recover it.
From India, Pune
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
+1 Other
Hi,
PF is statutory employer cannot hold it.
As an alternative, collect post dated cheques from the employee with a self declaration in stamp paper about the purpose. Employee has to honour the cheques and in case of bounce of cheques criminal case can be filed against him.
From India, Madras
PF is statutory employer cannot hold it.
As an alternative, collect post dated cheques from the employee with a self declaration in stamp paper about the purpose. Employee has to honour the cheques and in case of bounce of cheques criminal case can be filed against him.
From India, Madras
Early PF withdrawal won’t be easy.pdf
Guide Lines for PF Withdrawal.doc