Kamleshwar Tyagi (Manager- Accounts) (58 Points)
20 June 2008Fact:
1. Holding Company has valid PF account no. under PF Act & reguraly deducts & deposits PF from its employees.
2. Subsidiary Company does not have a PF Account under PF Act, Earlier it had no employees but from this Financial Year, it has appoint 1 employee.
Query: Can Holding Company deduct & deposit PF in its PF Account from the salary of Employee of Subsidiary Company or can Holding Company deduct & deposit PF in its Account on behalf of Subsidiary Company
pls reply asap
thanx
O.D.SHARMA
(DGM-F & A)
(1734 Points)
Replied 20 June 2008
Dear Kamleshwar,
U need not to deduct PF for single employee in subsidary company. it depends u have issued appointment in main company & employee is working in subsidary co.
O D Sharma
Kamleshwar Tyagi
(Manager- Accounts)
(58 Points)
Replied 20 June 2008
But Sir, what should we do now... 1 Employee has already been appointed in Subsidiary Company.
Is there any legal obligation to deduct PF from the salary of employee of Subsidiary Company
CAclubindia
