If a director of a private limited company (holding more than 1% stake), who was non-salaried (remuneration paid irregularly), was registered in the PF and contributions have been deducted. When the director's stake is reduced to 0%, but they would still be paid remuneration irregularly (without a set pattern), can PF deposits be stopped.
I would appreciate it if any experts could share their contact number to discuss this important information that is required.
Acknowledge(0)
Amend(0)
I would appreciate it if any experts could share their contact number to discuss this important information that is required.
Acknowledge(0)Amend(0)
Thank you for your response. My query is a bit twisted as this director is not paid any regular wages. It's an irregular amount spread across the year. Now, when depositing PF, we have to show monthly gross income, which in this case is not set. So, if this director is willing, can we opt him out of monthly PF contribution (as remuneration is above the minimum PF limit if calculated yearly)?
Acknowledge(0)Amend(0)
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
PF contributions[8 7].docx
HC All - Trainees not covered for PF -2010.pdf