Dear Sir,
Currently, 18 employees are working in our firm. As per the Karnataka Government Minimum Wages Act, we are required to pay Rs. 6751.20 starting from April 2015. Could you please advise on the amount of Provident Fund (P.F.) payable per employee by our firm? Additionally, should we include 1.10% + insurance charges in addition to the standard 12% contribution? It is important to note that we have not yet enrolled in the Provident Fund scheme.
Your guidance on this matter would be greatly appreciated. Thank you.
From India, Mangalore
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Currently, 18 employees are working in our firm. As per the Karnataka Government Minimum Wages Act, we are required to pay Rs. 6751.20 starting from April 2015. Could you please advise on the amount of Provident Fund (P.F.) payable per employee by our firm? Additionally, should we include 1.10% + insurance charges in addition to the standard 12% contribution? It is important to note that we have not yet enrolled in the Provident Fund scheme.
Your guidance on this matter would be greatly appreciated. Thank you.
From India, Mangalore
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Dear Harsa As per PF act you should deduct on current MW. And Adm charges reduced 1.10℅ to 0.85% wet Jan 15
From India, Calcutta
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1From India, Calcutta
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If you have only 18 employees why do you worry about EPF .It is not applicable .If you have 20 or more persons It will be applicable .Admin charges is 0.85% not 1.10%.
From India, Thiruvananthapuram
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From India, Thiruvananthapuram
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Dear Mr. Matthew,
It is employer discrimination regarding PF deductions, and it doesn't matter how many employees or workmen are working there. You can deduct PF if 10 persons are working there. Otherwise, below 10, you can obtain a code only for future planning.
From India, Calcutta
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It is employer discrimination regarding PF deductions, and it doesn't matter how many employees or workmen are working there. You can deduct PF if 10 persons are working there. Otherwise, below 10, you can obtain a code only for future planning.
From India, Calcutta
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Dear Harsha,
Under the EPF Act, your firm is not subject to the regulations as the total number of employees is less than 20. Therefore, it is not mandatory for you to register. However, if you wish, you may apply for registration voluntarily under the Act. Please proceed according to the decision/policy of the company.
Thank you.
From India, Calcutta
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Under the EPF Act, your firm is not subject to the regulations as the total number of employees is less than 20. Therefore, it is not mandatory for you to register. However, if you wish, you may apply for registration voluntarily under the Act. Please proceed according to the decision/policy of the company.
Thank you.
From India, Calcutta
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Dear Sibabrat Majumdar We are told that now the minimum employees number is 10 for P F liability .Please clarify
From India, Mangalore
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From India, Mangalore
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The EPF Act has not yet been amended. Still, for the purpose of obtaining registration under the EPF Act, it is required to have 20 or more employees. The proposal does not indicate a law has been enacted. When the law is amended, we can discuss the matter at length.
From India, Calcutta
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From India, Calcutta
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Dear Sir,
In Karnataka State, the minimum wage under the Shops and Establishments Act is Rs. 6751. If a deduction of 12% of employees' contribution, i.e., Rs. 810, is made, the net payment of Rs. 5,941 is payable as the net salary. Is this stance correct? Please clarify.
From India, Mangalore
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In Karnataka State, the minimum wage under the Shops and Establishments Act is Rs. 6751. If a deduction of 12% of employees' contribution, i.e., Rs. 810, is made, the net payment of Rs. 5,941 is payable as the net salary. Is this stance correct? Please clarify.
From India, Mangalore
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Splitting of minimum wages for PF in abeyance (1).pdf
Minimum Wages, ESI & PF.pps