Hi All Seniors,
If I am working in an XYZ private limited marketing company with 30 employees without registration in EPF and ESI, is it necessary to be registered into EPF and ESI if everyone is withdrawing 20K per month in cash or cheque? Could they withdraw their salary without any deduction? Is there any way to opt out of EPF and ESI?
From India, Jaipur
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2If I am working in an XYZ private limited marketing company with 30 employees without registration in EPF and ESI, is it necessary to be registered into EPF and ESI if everyone is withdrawing 20K per month in cash or cheque? Could they withdraw their salary without any deduction? Is there any way to opt out of EPF and ESI?
From India, Jaipur
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Dear vxlgaurav,
You will have to register under the PF Act and submit Form No. 11 regarding employees choosing not to become members of the EPF scheme. If any employee was a member of PF in a previous company, they must be covered under the act.
Regards,
Rajendra Bhavsar
From India, Mumbai
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You will have to register under the PF Act and submit Form No. 11 regarding employees choosing not to become members of the EPF scheme. If any employee was a member of PF in a previous company, they must be covered under the act.
Regards,
Rajendra Bhavsar
From India, Mumbai
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Provident Fund Registration Requirement
If the basic salary plus Dearness Allowance (DA) of all employees is above Rs. 6500 per month, there is no statutory obligation to register with the Provident Fund (PF). Even if some employees were covered under the Employees' Provident Fund (EPF) in their previous employment, it will not be applicable for their current employment.
Regards,
Abbas.P.S
From India, Bangalore
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If the basic salary plus Dearness Allowance (DA) of all employees is above Rs. 6500 per month, there is no statutory obligation to register with the Provident Fund (PF). Even if some employees were covered under the Employees' Provident Fund (EPF) in their previous employment, it will not be applicable for their current employment.
Regards,
Abbas.P.S
From India, Bangalore
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Thank you so much for sharing information. But tell me If we got cash as salary & no salary heads like basic, da or hra etc.. then what should be do??
From India, Jaipur
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From India, Jaipur
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ESI & EPF REGISTRTION DOCUMENT.doc
ESI Circular - New Salary ceiling of Rs. 15,000 effective May 1, 2010.pdf
ESI & EPF.xls