Dear Sir,
It is a new company. We have 25 employees. Out of the 25 employees, 10 employees' basic salaries exceed Rs. 6500. Is there any statutory requirement to cover the PF Act for the remaining 15 employees (total employees 25 - exempted employees 10)?
Please advise.
From India, Bangalore
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2It is a new company. We have 25 employees. Out of the 25 employees, 10 employees' basic salaries exceed Rs. 6500. Is there any statutory requirement to cover the PF Act for the remaining 15 employees (total employees 25 - exempted employees 10)?
Please advise.
From India, Bangalore
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Dear all,
It is a new company. We have 25 employees. Out of the 25 employees, 10 employees' basic salaries crossed Rs. 6500/-. Is there any statutory requirement to cover the PF Act for the remaining 15 employees (total employees 25 - exempted employees 10)? Is there any obligation to get a PF code for the organization? Please advise in this regard.
Regards
From India, Bangalore
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It is a new company. We have 25 employees. Out of the 25 employees, 10 employees' basic salaries crossed Rs. 6500/-. Is there any statutory requirement to cover the PF Act for the remaining 15 employees (total employees 25 - exempted employees 10)? Is there any obligation to get a PF code for the organization? Please advise in this regard.
Regards
From India, Bangalore
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Yes, you have to cover 15 employees under PF Act effecting from the date when total no. of employees crossed 19. Regards, Jony_M
From India, New Delhi
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From India, New Delhi
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Dear W.O.
It is mandatory for your company to cover it under the provisions of EPF & MP Act, 1952 as soon as 19 or more employees are employed in the company. It stands covered with the same effect statutorily, even if there are excluded employees in the company. Out of 25 employees, 15 shall be entitled to the benefits of EPF/EPS.
So, hurry and get a questionnaire from the related regional PF office and get it covered at the earliest to avoid further legal consequences.
Regards, KIRAN KALE
From India, Kolhapur
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It is mandatory for your company to cover it under the provisions of EPF & MP Act, 1952 as soon as 19 or more employees are employed in the company. It stands covered with the same effect statutorily, even if there are excluded employees in the company. Out of 25 employees, 15 shall be entitled to the benefits of EPF/EPS.
So, hurry and get a questionnaire from the related regional PF office and get it covered at the earliest to avoid further legal consequences.
Regards, KIRAN KALE
From India, Kolhapur
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