Hello, Due to COVID 19 lockdown, our firm is closed. But the company wants to give some compensation may be equal to full month / half month salary, to the staff Woking on daily wages.
On such compensation/ allowance/ relief, the deduction & payment of PF is mandatory?
From India, Agolai
On such compensation/ allowance/ relief, the deduction & payment of PF is mandatory?
From India, Agolai
Yes Partner,
The deduction and payment of PF would still be mandatory if this is paid as a salary payout. The employees still have the option to proceed on a pandemic advance withdrawal from the PF funds if they need to. This can be either up to 3 months of basic wages or 75% of the accumulated PF fund, whichever is lesser.
From India, Bengaluru
61The deduction and payment of PF would still be mandatory if this is paid as a salary payout. The employees still have the option to proceed on a pandemic advance withdrawal from the PF funds if they need to. This can be either up to 3 months of basic wages or 75% of the accumulated PF fund, whichever is lesser.
From India, Bengaluru
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Published_draft _rules_on Employees_ compensation 3.6.2020.pdf
Compensation Benchmarking Survey.doc