PF Membership Dilemma: Can Employees Earning Over Rs. 6,500 Be Exempted?

Dear Friends,

Can anyone advise me on the following issue: We have about 800 employees working with us. All are now PF members, and their salary is more than Rs. 10,000 per month. Is it now possible for exemption for those whose salary is more than Rs. 6,500?

Regards,

Dear Sir/Madam,

Unfortunately, I am unable to assist in this matter as once an individual becomes a member, they will remain a part of the Provident Fund (PF) until they are part of the organization. However, new employees may be exempt from joining initially.

Thank you,
JS Malik

Dear,

You have to check whether the employee was a member of the PF with the previous employer. If he was a member of the PF, please take the declaration in Form 11.

Regards,
Vipin :icon1:

Hi,

As Mr. Mallik mentioned, it is correct. You can apply these rules to new employees.

Secondly, you have inquired whether the employees' salary is more than 10,000/- per month. Is it referring to the basic salary or gross salary?

If the employees' basic salary exceeds 6500/-, then this rule will be applicable. However, if the employees' gross salary is over 10,000/- and the basic salary is below 6500/- per month, then you should consider that particular employee as a PF member.

Regards,

Dear all,

Once you become a member of PF, it is not possible to terminate the account even if you cross Rs. 6,500/- (Basic + DA) mark. If your account is closed, then there is no need to open a new account.

Similarly, if a new employee joins your company and has not closed his account previously, he is liable to continue his account in the present company.

Kennedy Balaraman

Hi All,

I require help with the PF statements. How can we determine the available balance in the PF accounts for each of our employees?

Thanks,
Richa

Dear Friend,

If the basic wages of an employee are more than 6500, the employee is exempted. However, if you pay his contribution during the period from March 2008 to February 2009 in any month, then you pay his contribution for February 2009. After submitting the return of PF, the employee is exempt in the month of March 2009, and you need to send Form 10 to the PF office along with the monthly return for March 2009, including his name and PF account number. Following that, the employee's membership is terminated.

Thanks/Regards,
Parvez

Hi,

Can anyone guide me on what a processor of check amount of PF slip is? What is the actual amount? Two amounts are shown on the PF slip.

Sandeep Sharma

Hi,

Can anyone guide me on what a processor of a check amount of PF slip is? What is the actual amount? Two amounts are shown on the PF slip.

Sandeep Sharma