Dear Experts,
I recently joined a private limited company as a HR Executive. This company is paying 12% of basic towards PF contribution. I told the management that the company can restrict the PF Contribution to Rupees 780/ month, which will save money to the company. The management has asked me to start the procedures.
My doubts are,
1. Can a company stop the 12% contribution and start contributing 780 rupees in the middle of the operations.
2. If yes, can this be done to all the employees or only to the newly joining employees.
3. And what is the procedure to do this.
Note: The strength of this company is 90+. The company been started in 2010.
I recently joined a private limited company as a HR Executive. This company is paying 12% of basic towards PF contribution. I told the management that the company can restrict the PF Contribution to Rupees 780/ month, which will save money to the company. The management has asked me to start the procedures.
My doubts are,
1. Can a company stop the 12% contribution and start contributing 780 rupees in the middle of the operations.
2. If yes, can this be done to all the employees or only to the newly joining employees.
3. And what is the procedure to do this.
Note: The strength of this company is 90+. The company been started in 2010.