Hi Team,
I have recently joined a company as a Senior HR Executive in the training and development department. My concern is that my salary breakup does not include PF benefits. Could this be impacting my future job prospects in any way? Is it mandatory to take advantage of this facility? At the moment, I do not wish to avail of this benefit as I am receiving my full salary amount without any deductions.
If I were to request management to include this benefit in my salary breakup, they might adjust the PF amount within the current CTC without contributing any extra amount themselves. Can anyone help me navigate the necessary steps to ensure future financial security?
Maninder Singh
From India, Chandigarh
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I have recently joined a company as a Senior HR Executive in the training and development department. My concern is that my salary breakup does not include PF benefits. Could this be impacting my future job prospects in any way? Is it mandatory to take advantage of this facility? At the moment, I do not wish to avail of this benefit as I am receiving my full salary amount without any deductions.
If I were to request management to include this benefit in my salary breakup, they might adjust the PF amount within the current CTC without contributing any extra amount themselves. Can anyone help me navigate the necessary steps to ensure future financial security?
Maninder Singh
From India, Chandigarh
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Dear Manindar Singh,
From your descriptions, I understand that your salary is above Rs. 6500/-. Your company may do the same as you said in the later part if you insist on PF. The cutoff rate of Rs. 6500/- was set much before. Our government will take its own time to rectify and update. It is better to solve the issue inside the department since you belong to the same.
Regards,
Benny Thomas
From India, Bangalore
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1From your descriptions, I understand that your salary is above Rs. 6500/-. Your company may do the same as you said in the later part if you insist on PF. The cutoff rate of Rs. 6500/- was set much before. Our government will take its own time to rectify and update. It is better to solve the issue inside the department since you belong to the same.
Regards,
Benny Thomas
From India, Bangalore
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Dear Maninder Singh,
Since you are working without deducting PF in your current job, it will not affect your job in the future. However, for future savings, PF deduction from your salary is a good investment for the future.
From India, Gurdaspur
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Since you are working without deducting PF in your current job, it will not affect your job in the future. However, for future savings, PF deduction from your salary is a good investment for the future.
From India, Gurdaspur
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Hi Mahinder,
If your basic salary exceeds Rs. 6500, you are exempted from PF, making it optional. However, PF is mandatory for salaries below Rs. 6500. In your case, there should be no problem. The company should have collected an EPF exempted form (I think it is Form 11) from you and filed it.
Regards,
Vishwanath
From India, Hyderabad
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If your basic salary exceeds Rs. 6500, you are exempted from PF, making it optional. However, PF is mandatory for salaries below Rs. 6500. In your case, there should be no problem. The company should have collected an EPF exempted form (I think it is Form 11) from you and filed it.
Regards,
Vishwanath
From India, Hyderabad
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Don't worry, Mahineder, about your next job. There are many other documents to prove your employment, such as your bank statement, payslip, and appointment letter. Any of these documents can suffice.
Regards,
Vishwanath
From India, Hyderabad
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Regards,
Vishwanath
From India, Hyderabad
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Dear all, Please can you update me regarding the P.F structure in the Jammu and Kashmir. P.F Rules Applicable to Jammu and Kashmir.
From India, Delhi
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From India, Delhi
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Deduction of EPF contribution from the wages of an employee drawing monthly wages up to 6500 is compulsory, and wages exceeding 6500 are optional. The employee can be excluded from the Act by submitting Form-11.
For more details, please contact Vaibav Consultants at 09962113555.
From India, Chennai
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For more details, please contact Vaibav Consultants at 09962113555.
From India, Chennai
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Online payment of PF mandatory from 1.1.2016.pdf