PF on Directors Remuneration

This query is : Resolved

sushil (Querist)
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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.

CMA. CS. Sanjay Gupta

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

sushil

sushil (Querist)
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08 May 2010 thanks

DIVYA MITTAL

DIVYA MITTAL (Expert)
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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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