Hi HR personnel, I am new to the HR domain. I joined a small-sized company one week ago as an HR executive. They are going to start PF deductions from next month. I want to know if it is mandatory if my basic pay is $10,000. Please reply.
Yes, for a basic salary which is equal to or less than 15,000, it is mandatory to deduct PF. This is one of the best employee benefit schemes; every month your money will be doubled. Nowadays, EPF is also earning a good rate of interest. It is my suggestion to join this scheme.
If your organization's employee strength is 20 or more, it is mandatory to deduct PF and also to contribute for all the employees whose basic or basic + DA salary is Rs. 15,000 or less.
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