12 March 2021
Statutory body which comes into existence under section 3 of Advocate Act, which has alloted premises in Government premises, so not having shops and establishment license, is liable to registered in EPF? Actually it is not a profit making organisation and not comes under private sector.
13 March 2021
But if that has separate provident fund in nationalized Bank and salary of all employees is greater than 15000.00 then is it compulsory to transfer to epf? As far as my knowledge, epf is for private sector employees. The said statutory body's income is exempted as per Supreme Court judgment. And it is not a profit making organisation. The rules of separate provident fund are published in government gazette. Provident fund is duly deducted and kept separately along with Employers contribution . Please guide, by prima face all features of statutory body are like public sector, and for public sector is it compulsory to keep provident fund in EPF ? Please guide.
13 March 2021
On such a case EPF is not compulsory as employees are drawing pay more than 15000. Most of the PSUs are following separate PF trust of their own. You can continue the present arrangement. No need for EPF registration.
13 March 2021
Thanks for your valuable guidance. One more query . If number of employees in such statutory body exceeds 20, can they continue the same provident fund of their own or not? Please guide.
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