Our company management would like to introduce Provident Fund Scheme in our company. They have decided to implement the scheme as the management decided any employee whose gross salary exceeds 6500/- would from the Provident Fund Scheme.
My query is whether such a provision does exist legally?
If so, can an still employee ask management to include him under PF scheme though his salary exceeds 6500/-?
21st November 2010 From India , Hyderabad
dear
as per p.f. act.
maximum limit is rs. 6500/-(basic+d.a.)
employer liability is up to rs. 6500.00 only beyond this limit it is up to management whether to include any employee or not.
p.f. contribution may also rescricted to this limit irrespect to the basic wage.
thanks
ramesh kumar
09812250487
26th November 2010 From India, New Delhi
Dear Narendra,
If employee (basic+DA) exceeds 6500/-month then he is exempted ,but in case he was member of Pf then he is eligible for PF deduction,Means if any employee was member of PF and he join your company more than 6500/- basic then he is eligible for PF.
Regards
Manish
21st December 2010 From India , Bangalore
dear sir as it has been discussed that management is liable upto 6500/-. it is up to the mangement it may or may not include that employee. under p.f. scheme. ramesh kumar 09812250487
24th December 2010 From India, New Delhi
dear
in starting while implimenting this act or newly joins employee if basic+DA not gross as mentioned by you in
your query is more than 6500 than empoyer is not bound to deduct PF.however if someone Basic+DA increase 6500 after a span of two years than he will continue to be member of PF ,however you can restrict deduction on 6500.
2nd January 2011 From India , Delhi
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