i am working in a pubic sector bank. the pf funds are managed by our trust. for the financial years 2008-09 & 2009-10 the trust has provided interest @8% & 8.25% at annual rest. This is less than the interest rate of 8.5% declared by the Central Govt for the corresponding years.
my question is
1. whether the trust has to provide minimum interest rate declared by the C.G.
2. Whether the employer is under mandate to meet the shortfall in case the returns from pf investments fall short to provide interest rate declared by the C.G.
3.the frequency at which the interest is to be credited in members account; annually or half yearly.
4. whether any returns are filed by the trust regarding this disclosure to the Regional PF commissioner or any other Govt Authority.
From India, Ahmadabad
my question is
1. whether the trust has to provide minimum interest rate declared by the C.G.
2. Whether the employer is under mandate to meet the shortfall in case the returns from pf investments fall short to provide interest rate declared by the C.G.
3.the frequency at which the interest is to be credited in members account; annually or half yearly.
4. whether any returns are filed by the trust regarding this disclosure to the Regional PF commissioner or any other Govt Authority.
From India, Ahmadabad
Hi sir,
this is moeen from lucknow, i m already doing pf esi work on contractual basis in kanpur as well as in unnao, if u want i can do urs also this is my number u can contact me for above.
9125790070
7398274354
From India, Lucknow
this is moeen from lucknow, i m already doing pf esi work on contractual basis in kanpur as well as in unnao, if u want i can do urs also this is my number u can contact me for above.
9125790070
7398274354
From India, Lucknow
Hi Sir,
I am working in an constructions firm which takes Government civil maintenance Contracts (Tenders), we are using temporary labors for various civil related works and make payment as per their policy i.e in Sqfts,rft, Lump-sum ,job bases, Item numbers etc... but the labor contractor/ labor denies and refuses to deduct their PF contribution and ready to give in writing the same with the rate list /quotation
so my consent is, whether the document which is given by the labor contractor/ labor is valid or not,
if yes what should be the right format and if no than what is the solution.
(we have contacted many labors and the ans is the same (not to deduct PF)
From India, Nashik
I am working in an constructions firm which takes Government civil maintenance Contracts (Tenders), we are using temporary labors for various civil related works and make payment as per their policy i.e in Sqfts,rft, Lump-sum ,job bases, Item numbers etc... but the labor contractor/ labor denies and refuses to deduct their PF contribution and ready to give in writing the same with the rate list /quotation
so my consent is, whether the document which is given by the labor contractor/ labor is valid or not,
if yes what should be the right format and if no than what is the solution.
(we have contacted many labors and the ans is the same (not to deduct PF)
From India, Nashik
It is obvious that sub contractors or workers may not let their revenue be reduced by means of a statutory deduction. Therefore, the rate quoted by you to the government should be such which includes these kinds of contributions payable by you. It is okay if you do not have PF and ESI coverage, but in case you are covered, it becomes your responsibility to take care of these and pay the contributions from your revenue.
Madhu.T.K
From India, Kannur
4193Madhu.T.K
From India, Kannur
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
PF ESIC.xls