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PF DEDUCTION QUIEY

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Venu Gopal

Accts Assistant

20 Points Posted on 07 May 2021

Hiii...

Our's is a firm where more than 50 employees are being employed...

upto last financial year we used give wages/salaries only in cash...

but from this Financial year we are deposting the same to employee's bank accounts

as the total employees count have crossed more than 50....is it mandatory to apply PF to them...

but almost all of the employees are not interested in PF as thier wages/salaries are within the range of 4000 to 10000 only

is there any solution for deposting thier wages/ salaries through bank....without deducting PF???

kindly advise me....

Replies (3)

Quick Summary

A firm with over 50 employees is seeking advice on Provident Fund (PF) deductions. Previously paying wages in cash, they've moved to bank deposits this financial year. Despite most employees earning between £4,000 and £10,000 and expressing disinterest in PF, the employer wants to know if deductions are mandatory. The discussion clarifies that PF registration becomes mandatory once an employer has more than 20 employees, regardless of employee preference or salary range.