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Type: HR, Report if not a HR topic
Dear Vamshi
If the company's employees strenght is more than 20 then PF account is must, but if it comes down below 20 and the company thinks that the expansion is not possible in coming years, then the company can a send a request letter to PF office to cancel their account so that no furthur PF to be paid.
Regards
Kalpana
I am not able to open that attachment .
My company doesn't deduct PF and not providing salary slip even not giving increment letter & salary description. Is there any way to get those details.
Our organization is private .
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8 Replies
7084 Views 8 Replies0
PF deduction
Type: HR, Report if not a HR topic
Posted 16-11-2010Reply
Hi,
I am presently working in some private firm and we have to apply for PF as no. of employees strength has exceeded 20. But as none of the employees fall in the salary scale of 6500 pm or below( Basic Pay + DA), is it necessary to show the PF deduction in that case ? Also nobody is interested on voluntary basis so in that case can we get the PF no. or not. For PF no. is it necessary to deduct the PF amount even if Basic Pay is more than 6500Pm??
Pls suggest.
Hi Barkha
when the employee strength in the company crosses 20, then it is mandatory to have PF account. But when the employee's Basic Salary is < or = to 6500/- in that case PF deduction is not mandatory. But still if the employee wants to have PF then 12% of Employees Basic sal should be deducted and Max to Rs 780/- pm can be given as Employer contribution i.e Rs 9360/- PA.
Hope this info may help you.
Regards
Kalpana
when the employee strength in the company crosses 20, then it is mandatory to have PF account. But when the employee's Basic Salary is < or = to 6500/- in that case PF deduction is not mandatory. But still if the employee wants to have PF then 12% of Employees Basic sal should be deducted and Max to Rs 780/- pm can be given as Employer contribution i.e Rs 9360/- PA.
Hope this info may help you.
Regards
Kalpana
Hi Barkha,
Here we have two Scenarios
1.) Company has More than 20 Employees.
2.) None of them falls under this Slab.
The PF option as said by Kalpana is Right, however even the Voluntary option is there even it will vary from Company to Company.
Coming to our Company we set a slab of to deduct the PF i.e.2.15 lac. for the Employee's whoever fall in this slab Pf is Mandatory.
When you look into their Basic +DA it will comes around 7825/-, but we made it mandatory.
If i took an Example
Basic - 6271 PF - 1197
DA - 3700 PT - 175
HRA - 4390
Conveyance - 800
Medical - 1200
Others - 1550
Total - 17911 Total Deductions - 1372
Net Salary - 16539
Please go through the above table.
The final Conclusion is if your Company Directors are looking to get PF' no for your Company they can make the above statement which made is Mandatory.
So that your Company can also get the PF number.
If any mistakes kindly regret and let me know where i am wrong, also please tell me the Solution.
Cheers...
Vamsi B.K.
Here we have two Scenarios
1.) Company has More than 20 Employees.
2.) None of them falls under this Slab.
The PF option as said by Kalpana is Right, however even the Voluntary option is there even it will vary from Company to Company.
Coming to our Company we set a slab of to deduct the PF i.e.2.15 lac. for the Employee's whoever fall in this slab Pf is Mandatory.
When you look into their Basic +DA it will comes around 7825/-, but we made it mandatory.
If i took an Example
Basic - 6271 PF - 1197
DA - 3700 PT - 175
HRA - 4390
Conveyance - 800
Medical - 1200
Others - 1550
Total - 17911 Total Deductions - 1372
Net Salary - 16539
Please go through the above table.
The final Conclusion is if your Company Directors are looking to get PF' no for your Company they can make the above statement which made is Mandatory.
So that your Company can also get the PF number.
If any mistakes kindly regret and let me know where i am wrong, also please tell me the Solution.
Cheers...
Vamsi B.K.
Ya, Mr.Vamsi B.K. you said more than 20 employees means it will applicable...but less than 20 employee means PF will pertinent or not,
Eg, in a manufacturing industry 45 employees are working after 2 years employee are reduce to 18 because Sickness industry on that time what we will do.. Could you please explain on this..
Eg, in a manufacturing industry 45 employees are working after 2 years employee are reduce to 18 because Sickness industry on that time what we will do.. Could you please explain on this..
Ya, Mr.Vamsi B.K. you said more than 20 employees means it will applicable...but less than 20 employ... See Murder the Business's complete reply
Dear Vamshi
If the company's employees strenght is more than 20 then PF account is must, but if it comes down below 20 and the company thinks that the expansion is not possible in coming years, then the company can a send a request letter to PF office to cancel their account so that no furthur PF to be paid.
Regards
Kalpana
Ya i agree to kalpana madam Explanation and plz go through the attachment,
here i have attach... See Murder the Business's complete reply
here i have attach... See Murder the Business's complete reply
I am not able to open that attachment .
My company doesn't deduct PF and not providing salary slip even not giving increment letter & salary description. Is there any way to get those details.
Our organization is private .
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