CLASS III PROPRIETOR
CLASS III LLP / PARTNERSHIP/ TRUST
CLASS III LIMITED COMPANY / ONE PERSON COMPANY
Any company which has 20 or more employees is required to be registered with the PF Department.
It will take 10-15 working days.
12% of the basic salary deposited in provident fund account is contributed by employers, whereas out of employee contribution of 12%; 3.67% is contributed to the provident fund and 8.33% is submitted in Pension scheme.
The Employee contributes 12% of his /her Basic Salary & the same amount is contributed by the Employer. Employer contribution of 12% of basic salary is totally deposited in provident fund account whereas out of Employees contribution of 12%, 3.67% is contributed to Provident fund and 8.33% is deposited in Pension scheme.
Employees drawing basic salary up to Rs 15000/- have to compulsory contributions to the and employees drawing above Rs 15001/- have an option to become a member of the Provident Fund.
Provident fund contribution by the employer & employee is not a taxable income for Income Tax purpose.
Any establishment which employs 20 or more employees, except apprentice and casual laborers, every Employee including contract labor who is in receipt of basic salary up to Rs. 15000 p.m. is covered by the Act. Any establishment which has been covered under the Act once shall continue to be governed by the Act even if the number of persons employed therein at any time falls below 20.
Address:
No.234, 2nd Floor
Mount Poonamallee High Road
Porur, Chennai 600 116
Tamilnadu, India
Landline:
044 – 2482 8689
Mobile:
+91 78239 99200
Email:
support@pentagontaxcorp.com
We are committed to delivering value to our clients and ensuring long term success. Reach out to us to improve your business in global market, innovation, reduce costs, implement new techniques and manage risk and governance.
Automotive & Transportation
Consumer Products & Retail
Financial Services
Government & Public Sector
Health
Life Sciences
Media & Entertainment
Mining & Metals
Oil & Gas
Power & Utilities
Real Estate, Hospitality & Construction
Technology
Telecommunications
2014-2019 ALL RIGHTS RESERVED | PENTAGON TAXCORP PVT LTD | PRIVACY POLICY | CONFIDENTIALITY POLICY