For the past 3 years, we have not been opting for the policy of PF deduction as we were under the assumption that by filling out Form 11 from the employee, we would not need to deduct PF from the salary. I just want to know if we should continue with this system or if we should start deducting PF. Recently, one of our senior consultants advised us to contribute the amount to PF; otherwise, we may encounter issues. Can anyone guide us on this and provide a list of companies that initially did not deduct PF but later started contributing?
I am a bit confused about whether we should stick with the old policy or begin PF deduction.
Thank you.
From India, Mumbai
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I am a bit confused about whether we should stick with the old policy or begin PF deduction.
Thank you.
From India, Mumbai
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PF Deduction and Contribution: A Statutory Obligation
PF deduction and contribution are statutory obligations for every organization employing 20 or more persons. There is no way to escape this responsibility. Not meeting the statutory obligation will certainly invite legal penalties as prescribed by the act.
You must register your organization with PF and start deducting and contributing to the PF. This topic has already been discussed a number of times on CITEHR. Still, are you confused?
Regards,
Kamal
From India, Pune
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177PF deduction and contribution are statutory obligations for every organization employing 20 or more persons. There is no way to escape this responsibility. Not meeting the statutory obligation will certainly invite legal penalties as prescribed by the act.
You must register your organization with PF and start deducting and contributing to the PF. This topic has already been discussed a number of times on CITEHR. Still, are you confused?
Regards,
Kamal
From India, Pune
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