I was reading an article where it was stated that if an employee whose salary(Basic plus DA) is more than 15k at time time of the entry of employment can stay away from EPF scheme.
Is this true??
If yes, then it means Company also need not to pay epf for employee, or this exemption is only for employee contribution and not for Employer Contribution??
From India, Delhi
Is this true??
If yes, then it means Company also need not to pay epf for employee, or this exemption is only for employee contribution and not for Employer Contribution??
From India, Delhi
do not confuse with contributions. if it is applicable you need to recover both contributions as such. But as per act, any salary >15K drawn by an employee you need not recover EPF contribution and needless to say do not pay employer contribution for that employee also.
From India, New Delhi
418From India, New Delhi
Does this mean that if the employee is earning more than 15k then he can waive of EPF ?
From India, Mumbai
From India, Mumbai
absoluted. those drawing more than 15k called excluded employee under the EPF Act you need not recover contribution for them.
From India, New Delhi
From India, New Delhi
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HC All - Trainees not covered for PF -2010.pdf
PF Ledger.xls