Provident Fund
This query is : Resolved
31 March 2010
A company which was registered with PF and was paying its PF deducted from employees for sometime. After a few years, since no employee's Basic pay is less than Rs 6,500, it stopped deducting PF and so, stopped its own contribution, as well.
Can a Company opt out of PF at this kind of situation though it is registered and was paying before ?
It will be great, if I can get a detailed reply to this.
Thank you for your support,
Raghu.
Can a Company opt out of PF at this kind of situation though it is registered and was paying before ?
It will be great, if I can get a detailed reply to this.
Thank you for your support,
Raghu.
31 March 2010
Once a company registered under PF then it cannot surrender registration under untill company is doing business. It may possible in future company employ any employee who will have salary less then 6500/- then company will deduct PF. Also PF should be deducted on contractual employees.
31 March 2010
agree.once PF applicable it is continue even the salary of all employee come less than 6500
01 April 2010
Agree with Ramesh. For an existing member of PF liability of company continues even after salary of existing members exceed 6,500. However the company may restrict his contribution upto Rs. 6500 for an existing member whose salary exceeds the said limit.
Find more on this link
http://www.epfindia.com/payments.htm
Find more on this link
http://www.epfindia.com/payments.htm
01 April 2010
AGREE WITH EXPERT VIEWS
01 April 2010
Thank you so much for your great support. This helps a lot.
Raghu.
Raghu.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Form 121 & TDS deduction
- Invoice V/S Goods receipt Note Date
- LC charges in relation to Asset purchased should be Capitalised ?
- Multiple trade mark
- Copyright software
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Transporter Declaration form
- Regarding appeal to GSTAT
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
