Applicability of p f act
This query is : Resolved
Hari narayanan v p
(Querist)
04 August 2012
Sir/Madam, Is P F Act applicable to the business entity where the number of employees is 10 or more.If so, then from when it is applicable.
04 August 2012
Employer Coverage:-
*Establishments employing 20 or more employees
*Cooperative societies Employing 50 or more employees & working without thtaid of power.
*Any other establishment on voluntary basis.
An establishment continues to be covered under the act, irrespective of the fall in employees’
strength.
*Establishments employing 20 or more employees
*Cooperative societies Employing 50 or more employees & working without thtaid of power.
*Any other establishment on voluntary basis.
An establishment continues to be covered under the act, irrespective of the fall in employees’
strength.
04 August 2012
Employer Coverage:-
*Establishments employing 20 or more employees
*Cooperative societies Employing 50 or more employees & working without thtaid of power.
*Any other establishment on voluntary basis.
An establishment continues to be covered under the act, irrespective of the fall in employees’
strength.
*Establishments employing 20 or more employees
*Cooperative societies Employing 50 or more employees & working without thtaid of power.
*Any other establishment on voluntary basis.
An establishment continues to be covered under the act, irrespective of the fall in employees’
strength.
04 August 2012
Rate of Contribution
√ 12% of basic & DA, in case of 175 establishments.
√ 10% in case of following:‐
√ Brick
√ Beedi
√ Jute
√ Guar gum factories
√ Coir industry other than spinning sector
√ Declared sick units by BIFR
A matching contribution from employees is also to be recovered.
The following are the charges of PF
Account No. Details Employees Employer
1 PF contribution
account
12 3.67
2 PF Admin account 1.10
10 Pension Fund account 8.33
21 EDLIS account 0.50
22 EDLIS admin account 0.01
Total 12 13.61
√ 12% of basic & DA, in case of 175 establishments.
√ 10% in case of following:‐
√ Brick
√ Beedi
√ Jute
√ Guar gum factories
√ Coir industry other than spinning sector
√ Declared sick units by BIFR
A matching contribution from employees is also to be recovered.
The following are the charges of PF
Account No. Details Employees Employer
1 PF contribution
account
12 3.67
2 PF Admin account 1.10
10 Pension Fund account 8.33
21 EDLIS account 0.50
22 EDLIS admin account 0.01
Total 12 13.61
04 August 2012
Inspection Charges
Establishments exempted under PF scheme: ‐ 0.18%
Establishments exempted from EDLI scheme: ‐ 0.005%
Establishments exempted under PF scheme: ‐ 0.18%
Establishments exempted from EDLI scheme: ‐ 0.005%
Hari narayanan v p
(Querist)
04 August 2012
thanks mr guru for your information
04 August 2012
Interest Liability: ‐ 12% on such remittance for the period of Delay.
Penalty/ Damages: ‐ 17% to 37% based on delay.
Penalty/ Damages: ‐ 17% to 37% based on delay.
04 August 2012
Duties of Employer:
1. Deposit the amount on or before 15th of every month.
2. File monthly returns in form 12A, 5, and 10.
3. Maintain contribution card of each employee in form 3A
4. File an annual return in form 3A & 6A
1. Deposit the amount on or before 15th of every month.
2. File monthly returns in form 12A, 5, and 10.
3. Maintain contribution card of each employee in form 3A
4. File an annual return in form 3A & 6A
04 August 2012
Important:For
the calculation of 12% of Basic salary, the maximum limit of basic is Rs.6500, i.e. the employer
is liable to contribute only on Rs. 6500.However, if the employee may so desire, and he can
contribute more than 12%.
the calculation of 12% of Basic salary, the maximum limit of basic is Rs.6500, i.e. the employer
is liable to contribute only on Rs. 6500.However, if the employee may so desire, and he can
contribute more than 12%.
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