I am working in a manufacturing company as an HR Manager. We want to start PF for our workers, but I want to know if we started PF for them, are there any issues of union or other issues from the workers' side? Please guide me.
From India, Pune
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2From India, Pune
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PF is a statutory liability and is the responsibility of the management to implement it. You need not seek the agreement of the Union to introduce PF. How long have you been working? PF authorities are likely to insist on PF coverage from the day the coverage occurred.
From India, Mumbai
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From India, Mumbai
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Thank you for guiding me. However, sir, we already provide them with other facilities like incentives, etc. But on our MD's side, if we start PF for them, we will stop giving incentives. I want to know which option is better - incentives or PF.
Regards,
Madde Up
From India, Pune
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Regards,
Madde Up
From India, Pune
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Dear Sir, Please anyone can share PF process how we can start Regards, Madde Up
From India, Pune
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From India, Pune
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PF Coverage Requirements
1. If the monthly salary paid to your employees is less than Rs. 15,000/-, the nature of your industry is specified in Schedule-1 of the PF Act, and the employee strength is twenty or more, then PF coverage ought to be there. Please respond with the position in this regard.
Incentives vs. PF
2. Incentive is no alternative to PF. PF is to provide for the institution of provident funds, pension fund, and deposit-linked insurance fund for employees; it is an investment made for post-retirement life. Incentives are paid concurrently with employment, and it depends on the individual to make any savings for the future.
Voluntary PF Application
3. If you are not meeting the criteria in point no.1, PF can still be applied on a voluntary basis, but the procedure is separate. Please clarify the position, and further details can be shared.
From India, Mumbai
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1. If the monthly salary paid to your employees is less than Rs. 15,000/-, the nature of your industry is specified in Schedule-1 of the PF Act, and the employee strength is twenty or more, then PF coverage ought to be there. Please respond with the position in this regard.
Incentives vs. PF
2. Incentive is no alternative to PF. PF is to provide for the institution of provident funds, pension fund, and deposit-linked insurance fund for employees; it is an investment made for post-retirement life. Incentives are paid concurrently with employment, and it depends on the individual to make any savings for the future.
Voluntary PF Application
3. If you are not meeting the criteria in point no.1, PF can still be applied on a voluntary basis, but the procedure is separate. Please clarify the position, and further details can be shared.
From India, Mumbai
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Respected Sir, Our employee Strength is 25, we are providing salary to them minimum 6700 P. M+ other allowances. Our Nature of business is we are manufacturing cashew nuts processing machinery.
From India, Pune
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From India, Pune
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You are obviously under PF coverage, and it is effective from the day you had 20 or more employees. The PF officials would ask for proof, so keep all your registers and other documents to prove this fact.
From India, Mumbai
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From India, Mumbai
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