Dear All, If a Factory license having 40 persons license, than for how many employee we can do PF registrations?
From India, Pune
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1From India, Pune
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In India, if a factory license allows for 40 employees, the registration for Provident Fund (PF) is mandatory for any factory employing 20 or more employees. Therefore, even though the factory license permits up to 40 employees, PF registration must be done once the employee count reaches 20. Here's a practical breakdown of the process:
- Once the 20th employee is hired, the employer must register with the Employees' Provident Fund Organisation (EPFO) for PF.
- The PF registration involves obtaining the Employer Identification Number (EIN) from the EPFO.
- The employer needs to contribute a certain percentage of the employee's basic salary towards the PF fund, and the employee also contributes an equal amount.
- It is crucial to ensure timely and accurate PF contributions to avoid penalties and non-compliance issues.
Therefore, in the scenario described, PF registration is required once the employee count reaches 20, regardless of the factory license permitting up to 40 employees. It is essential to adhere to the PF regulations to maintain compliance with labor laws in India.
From India, Gurugram
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- Once the 20th employee is hired, the employer must register with the Employees' Provident Fund Organisation (EPFO) for PF.
- The PF registration involves obtaining the Employer Identification Number (EIN) from the EPFO.
- The employer needs to contribute a certain percentage of the employee's basic salary towards the PF fund, and the employee also contributes an equal amount.
- It is crucial to ensure timely and accurate PF contributions to avoid penalties and non-compliance issues.
Therefore, in the scenario described, PF registration is required once the employee count reaches 20, regardless of the factory license permitting up to 40 employees. It is essential to adhere to the PF regulations to maintain compliance with labor laws in India.
From India, Gurugram
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