Hi,
As PF contribution of the employee is deducted from their CTC, is the employer's PF contribution also included in the CTC? Could you please clarify this?
I have been working with the same company for over two years. Can I withdraw my PF amount without changing my job? Please provide clarification on this matter.
Thanks in advance.
From India, Mumbai
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As PF contribution of the employee is deducted from their CTC, is the employer's PF contribution also included in the CTC? Could you please clarify this?
I have been working with the same company for over two years. Can I withdraw my PF amount without changing my job? Please provide clarification on this matter.
Thanks in advance.
From India, Mumbai
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Yes, while calculating CTC as a whole, employer PF contribution should also be included because it is a cost to the company. From my experience, most companies include this in the CTC. I would like to know other members' comments.
M. Krishnakumar
From India, Selam
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M. Krishnakumar
From India, Selam
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Employer's contribution towards PF is a part of CTC. If any employee wants to withdraw the money accumulated in the PF account, he can do that, but there is a blocking period for that. I am not sure about the blocking period.
From India, Ghaziabad
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From India, Ghaziabad
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Yes - it is part of CTC. You can withdraw this amount on submission of resignation - need to wait atleast three months to get credited to your SB account
From India, Hyderabad
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From India, Hyderabad
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Employees' share of PF is a deduction from their own salary. It costs nothing to the company. Whereas the employer's share is a cost to the company.
PF cannot be withdrawn while in service. However, there are provisions for taking a non-refundable advance from the PF account for which a minimum service is required. For example, for marriage of self or a close dependent, you should have at least 7 years of service, and for purchasing/constructing a house, you should have at least 5 years of service. In some other cases, such as medical treatment, reduction in wages due to power cut (idle time enforced due to power cut), non-payment of salary for at least two months, etc., an advance is allowed from the PF account.
Regards, Madhu.T.K
From India, Kannur
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4483PF cannot be withdrawn while in service. However, there are provisions for taking a non-refundable advance from the PF account for which a minimum service is required. For example, for marriage of self or a close dependent, you should have at least 7 years of service, and for purchasing/constructing a house, you should have at least 5 years of service. In some other cases, such as medical treatment, reduction in wages due to power cut (idle time enforced due to power cut), non-payment of salary for at least two months, etc., an advance is allowed from the PF account.
Regards, Madhu.T.K
From India, Kannur
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PF is a part of CTC and is contributed by both the employee and the employer. Eligibility for withdrawing PF is after 2 months of his/her resignation with the company, and after submission, it takes a minimum of 40 days for processing. An employee in service can't withdraw the PF amount. Form 10 & 19 are for withdrawing PF.
Regards,
Suji.
From India, Hyderabad
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Regards,
Suji.
From India, Hyderabad
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PF NO Contribution on CTC.pdf