Hi I have recently joined a pharma ltd company in Mumbai. The issue is we want to strat with PF but none of us have much knowledge in the same. Kindly suggest how to start with the same.
From India, Mumbai
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5From India, Mumbai
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Hello, Check whether this attachment can help you. Regards Priya
From India, Mumbai
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From India, Mumbai
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For an establishment employing 20 or more employees, EPF is mandatory. As per the law, those earning Rs 6500 or less at the time of PF enforcement are eligible to become members. Others can also become members, but only if the employer deems it appropriate and agrees to contribute their share of 12% at a higher salary level for the employees. Once covered or becoming a member, they continue to be a member regardless of their salary.
Upon coverage, the employer must submit the required forms as specified by the EPF Enforcement Officer. As a member, one has to contribute 12% of their salary (Basic + DA) towards EPF. The employer makes a similar contribution, divided as 8.33% and 3.67% into the Employees' Pension Scheme Fund and Employees' Provident Fund, respectively.
The fund allows a member to take advances for specified purposes and also provides pension benefits. There is a wealth of discussions on this topic available in the Labour and Employees Forum. Please verify that as well.
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Madhu.T.K
From India, Kannur
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Upon coverage, the employer must submit the required forms as specified by the EPF Enforcement Officer. As a member, one has to contribute 12% of their salary (Basic + DA) towards EPF. The employer makes a similar contribution, divided as 8.33% and 3.67% into the Employees' Pension Scheme Fund and Employees' Provident Fund, respectively.
The fund allows a member to take advances for specified purposes and also provides pension benefits. There is a wealth of discussions on this topic available in the Labour and Employees Forum. Please verify that as well.
Regards,
Madhu.T.K
From India, Kannur
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Hi,
I have recently joined a pharma company in Mumbai. The issue is we want to start with PF, but none of us have much knowledge about it. Kindly suggest how to proceed with it.
I have sent you the PF coverage form and the required documents to your email address. I am a consultant and practitioner based in Mumbai, specializing in PF, ESI, professional tax, Shops and Establishment Act, etc.
Please contact me via email at hrshah1710@rediffmail.com or by phone at 9324256806 or 9833203041 for any queries regarding the above-mentioned subjects.
Haresh Shah
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I have recently joined a pharma company in Mumbai. The issue is we want to start with PF, but none of us have much knowledge about it. Kindly suggest how to proceed with it.
I have sent you the PF coverage form and the required documents to your email address. I am a consultant and practitioner based in Mumbai, specializing in PF, ESI, professional tax, Shops and Establishment Act, etc.
Please contact me via email at hrshah1710@rediffmail.com or by phone at 9324256806 or 9833203041 for any queries regarding the above-mentioned subjects.
Haresh Shah
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Provident Fund - Excluded Employee - Definition.pdf