Impact of amendments in the provisions of Provident Fund (PF) regulations

White Paper

Impact of amendments in the provisions of Provident Fund (PF) regulations

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  • 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