PF CRITERIA -- URGENT

hi guys this is vikram, New to this site,
I have a Question
>is it true that until the company is 5yr old, Its not eligible for PF scheme?
and if possible can u explain the criteria for PF scheme for a company?
Thx in advance

Hi Vikram,
Welcome to the citehr.. Wish you happy stay here..
Any company who comes under the Factories Act, engage 20 or more employees on any of the day becomes eligible to get registered with PF as well as ESI Act.
Earlier it was a rule that new organisation would be exempted till 3 years, but after amendment in the Act, now its compulsory only after achieving the employee number of 20.
Regards,
Amit Seth.