Introducing PF and Pension Accounts for 600+ Employees: How Do I Start?

Dear All,

My company has more than 600 employees, but we don't have PF and Pension accounts for our employees, even though 70% of employees' basic salary is less than Rs. 6500. I have recently joined and would like to introduce the system. Please guide me through the complete procedure step by step. Please help.

Regards,
Suman

Dear All,

I know you all are very busy with your schedules, but please provide me with the entire process of PF so that I can move the project forward and assist over 600 employees. I am eagerly awaiting your kind guidance.

Dear Friend,

Just go through the appended link, and you will get details about the complete P.F. procedure: [EPFO](http://epfindia.nic.in).

As per P.F. norms, if any company crosses the 20-employee mark, it is mandatory to register under the P.F. act. Concerning your company, it has exceeded the basic number significantly. I am really wondering why your company has not opted for either P.F. registration or its own exempted trust until now. Anyway, do not delay the P.F. registration process. If you consult any P.R.O. in your area's P.F. office, you will receive all the necessary information about the registration procedure. However, be prepared for numerous inquiries from P.F. authorities regarding the late registration, especially with 600 staff members. To my knowledge, they may also impose penalty charges, so get ready to face that.

If you seek an accurate answer to your query, you will have to wait until our seniors reply.

I wish you all the best.

Hi,

According to me, it's too late. They will even check your bank statement. It's better to go to the PF office and meet the PRO or the Enforcement Officer. They will tell you what to do. I think you have to pay from the date of starting the business or when your staff strength was more than 20. Anyway, the whole amount should be paid from the employer's side.