Dear All, Sir in our Organization Some Employees are not willing to deduct p.f from them.Are we have to Maintain any Signed Form From them Please Kindly Suggest me
From India, Bangalore
1From India, Bangalore
Hi..........Ganesh!
I hope so you know for pf Basic salary limit is 6500/- , who is getting more then 6500/- basic they are not eligible for pf but Max companies are showing two basics for 1is pf and another one is company basic .
if employee basic salary is more then 6500/- , we need not deduct the pf from their A/Cs
From India, Hyderabad
I hope so you know for pf Basic salary limit is 6500/- , who is getting more then 6500/- basic they are not eligible for pf but Max companies are showing two basics for 1is pf and another one is company basic .
if employee basic salary is more then 6500/- , we need not deduct the pf from their A/Cs
From India, Hyderabad
Dear Ganesh, U can use form no 11 which i attached here for exemption from PF whose salary more than 6500.
From India, Mumbai
From India, Mumbai
Ganesh
-If BP is 6500./- then PF is must, else employer establishes offence.
-if the employees had PF account earlier then continuation of PF is must even if BP exceed 6500./-
-If the employee never contributed PF earlier & currently BP exceeds 6500, then PF is optional.
From India, Chennai
-If BP is 6500./- then PF is must, else employer establishes offence.
-if the employees had PF account earlier then continuation of PF is must even if BP exceed 6500./-
-If the employee never contributed PF earlier & currently BP exceeds 6500, then PF is optional.
From India, Chennai
hi PF is mandatory. Now a days Clinets are asking pf paid challans while submitting the monthly bills. Hence council the employees about the PF Benenfits.
From India, Hyderabad
From India, Hyderabad
Good Morning,
PF is a very good investment option for employees. Especially those is the lower scales, because they are yet to understand the value of Investing Discipline. They don't realise that the 780 or 12% they deposit, is not only that but also employers contribution is added to it.
So the 780 actually is 780+780 . A part of employers contribution goes to Pension Fund and in an eventuality, that pension amount can be claimed by surviving dependent. Moreover on the PF part of employee and PF deposit of employer the employee also earns interest rates of 8.5% (changes yearly). In case of a loan requirement for medical, hospitalisation, marriage, even insurance payments - some employees may not be able to get it from the bank, can approach PF to give advance against their deposit (valid after 5-7 yrs).
Its a good thing for the employee to be invested in PF. Would request you explain these benefits to them. If they are still not convinced, then PF gives the employee option to restrict contribution to Rs.780/- only for those whose Basic+DA is more than Rs.6500/- alternatively they can also claim exemption for filling form 11 (provided they aren't, weren't already enrolled in PF) Once enrolled, they need to continue. Also as a precautionary documentation ,measure would suggest collect a letter from employee with their request (i.e. they wish to limit their contribution to Rs.780/- or they wish to claim exemption from PF since they haven't been enrolled earlier and are above the limit)
Warm Regards,
Deena Jagasia
From India, Mumbai
PF is a very good investment option for employees. Especially those is the lower scales, because they are yet to understand the value of Investing Discipline. They don't realise that the 780 or 12% they deposit, is not only that but also employers contribution is added to it.
So the 780 actually is 780+780 . A part of employers contribution goes to Pension Fund and in an eventuality, that pension amount can be claimed by surviving dependent. Moreover on the PF part of employee and PF deposit of employer the employee also earns interest rates of 8.5% (changes yearly). In case of a loan requirement for medical, hospitalisation, marriage, even insurance payments - some employees may not be able to get it from the bank, can approach PF to give advance against their deposit (valid after 5-7 yrs).
Its a good thing for the employee to be invested in PF. Would request you explain these benefits to them. If they are still not convinced, then PF gives the employee option to restrict contribution to Rs.780/- only for those whose Basic+DA is more than Rs.6500/- alternatively they can also claim exemption for filling form 11 (provided they aren't, weren't already enrolled in PF) Once enrolled, they need to continue. Also as a precautionary documentation ,measure would suggest collect a letter from employee with their request (i.e. they wish to limit their contribution to Rs.780/- or they wish to claim exemption from PF since they haven't been enrolled earlier and are above the limit)
Warm Regards,
Deena Jagasia
From India, Mumbai
hi all If employee is not willing to deduct the PF. It is not employee choice, they have to accept the conditions of the Company / Organisation. So it is mandatory.
From India, Hyderabad
From India, Hyderabad
manoj is correct , once you are a member u have to join read the exemptions on form 11 they are self explanatory
Hi,
If an employee is drawing more than Rs. 6500/- as basic and he doesn't willing to contribute PF. whether it is mandatory for employer to contribute in his account equivalent to Rs. 6500/- or employer also shall not contribute to the fund.
From India, Chennai
If an employee is drawing more than Rs. 6500/- as basic and he doesn't willing to contribute PF. whether it is mandatory for employer to contribute in his account equivalent to Rs. 6500/- or employer also shall not contribute to the fund.
From India, Chennai
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