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PF on Directors Remuneration

This query is : Resolved 
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(Querist)
08 May 2010 Dear all,
I need some clarification in PF.
PF is applicable to our company.
From this Year 10-11 we will be paying directors remuneration to 2 additional directors Rs.30,000/- & Rs.25,000/-.
Wheter we need to deduct pf from this payments?

Thanks in advance.


Sushil.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
08 May 2010 not compulsory as their salary is greater than Rs 6500/- p.m.
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sushil

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sushil (Querist)
08 May 2010 thanks
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DIVYA MITTAL

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DIVYA MITTAL (Expert)
09 May 2010 Employees drawing the pay upto Rs 6500/-P.m(Pay Includes basic wages including dearness allowances if any & Cash value of food concession Admissible thereon) only are eligible for participation of fund.
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