Hi All, Do we need to pay PF Admin charges of 1.61% to the PF department if a company has its own PF trust? If we need to pay, then how much? Please comment.
The company has its own trust; however, the employer shall bear all expenses related to the administration of the Provident Fund. This includes the maintenance of accounts, submission of returns, and transfer of accumulations. The company will also bear the inspection charges by the PF personnel.
Mr. Shaikh Abedeen has rightly quoted that no admin charges are to be paid if the employer has their own PF Trust. Only annual inspection charges are required to be paid.
Thank you.
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