PF Registration (Provident Fund Registration) is mandatory for all establishments with 20 or more employees. Some establishments having less than 20 employees would also be required to obtain PF Registration
All employees become eligible for a PF right from the commencement of employment and the onus of deduction and payment of PF is with the employer. The 12% rate of PF contribution should be equally divided between the employee and the employer.
While 3.67% of the Employer contribution goes towards contribution of EPF (Employees Provident Fund), 8.33% of the Employer contribution goes to EPS (Employees Pension Scheme).
If the establishment houses less than 20 employees, the rate of PF Deduction is 10%. Hence it is advisable to consult a practicing Chartered Accountant in India to advise on the same.
About This Community
This community is for professionals and enthusiasts of our products and services. Share and discuss the best content and new marketing ideas, build your professional profile and become a better marketer together. Read Guidelines
|Asked: 12/15/18, 4:26 AM|
|Seen: 158 times|
|Last updated: 2/2/19, 1:22 AM|