Provident fund

Querist : Anonymous (Querist) 23 December 2011 This query is : Resolved
WHAT IS THE PROCEDURE TO BE FOLLOWED FOR NON DEDUCTION OF P.F. FROM SALARY OF CONTINUING DIRECTOR ( i.e. WITHOUT RESIGNATION ) OUR ADVOCATE SUGGESTED THAT FIRST DIRECTORS HAVE TO RESIGNED FROM COMPANY TO STOP THE DEDUCTION OF P.F. AMOUNT.
MY QUERY AS FOLLOWS :
X PVT. LTD. HAS 4 DIRECTORS, COMPANY IS DEDUCTING P.F. FROM THEIR SALARY @12%. DIRECTORS ARE GETTING SALARY 1 LACS P.M.. NOW DIRECTORS ARE WANTED, THAT P.F. NOT TO BE DEDUCTED FROM THEIR SALARY, BECAUSE THEY ARE GETTING MUCH AMOUNT AS A SALARY. KINDLY EXPLAIN, WHETHER IT IS POSSIBLE THAT P.F. SHOULD NOT BE DEDUCTED FROM THE SALARY OF CONTINUING DIRECTOR / EMPLOYEES, IF POSSIBLE KINDLY EXPLAIN THE PROCEDURE TO BE FOLLOWED FOR THIS PURPOSE.

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jeevan1950 (Expert) 23 December 2011
provident fund is statutory and cannot be a voluntary thing. so as long as u hold the post PF will be deducted

Shonee Kapoor (Expert) 23 December 2011
Correct, as long as he is on rolls, no exception can be made out.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com