Impact of amendments in the provisions of Provident Fund (PF) regulations
Date05 Sep 2016//
- It’s been approx. 3 months since Ministry of Labour notified the changes in PF regulations which increased the PF wage ceiling from Rs. 6,500 to Rs. 15,000, by more than 125%.!
- Around same time (just 3 weeks before), an internal circular was issued which instructed the regional PF offices to inspect the establishments which have splitted the wages to reduce the PF liability.!
- The purpose of this whitepaper is to discuss the impact of both the developments on employers and employees with a possible solution