Suggestion request - EPF / Corporate NPS

This query is : Open

S Ganesh (Querist)
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12 April 2024 Note: Our Company is a Startup Company (Pvt Ltd) with 18 Employees at present. Our Director asks for suggestions: 1. Get the EPF registration (or) 2. Contribute to Corporate NPS.

Question: 1. Which one is Safe (Statutory need Purpose) for the Company in the Future? 2. Which one is better benefits to the employee and employer? 3. For Example Each Employee's Gross Salary is Rs.50,000/- per month which one is cost-wise effective for the company?

Please guide me and also give your best suggestion.

Thanks.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 April 2024 1 Employees salary above statutory need, no compulsory EPF registration required.
2 Better opt for corporate NPS.

S Ganesh

S Ganesh (Querist)
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16 April 2024 Dear Sir, Thanks for your reply and additionally, In case the company recruits 4-5 members in 10K salary range in the future and the strength becomes more than 20. In this case will the EPF becomes mandatory or can we continue with NPS for all of them.