Dear Professionals,
I would like to know if there is any way an employee whose basic salary is less than 15K and does not have a PF account can be exempted from PF deductions.
Also, what other ways are there to exempt an employee from PF deduction?
Thank you.
From India, Ahmedabad
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1I would like to know if there is any way an employee whose basic salary is less than 15K and does not have a PF account can be exempted from PF deductions.
Also, what other ways are there to exempt an employee from PF deduction?
Thank you.
From India, Ahmedabad
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Hi,
An employee can opt out of the provident fund if the following criteria are met:
- If he/she is a first-time employee i.e., at the time of joining the first job.
- The employee has his or her Basic + DA (PF Wages) more than Rs. 15,000/- per month.
- At the time of changing a job, only when he/she does not have an existing PF account number.
In case of Basic salary less than Rs. 15,000, PF is a must.
The only option is if the company is not coming under the purview of PF due to less manpower, then there is no need to deduct PF.
From India, Madras
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An employee can opt out of the provident fund if the following criteria are met:
- If he/she is a first-time employee i.e., at the time of joining the first job.
- The employee has his or her Basic + DA (PF Wages) more than Rs. 15,000/- per month.
- At the time of changing a job, only when he/she does not have an existing PF account number.
In case of Basic salary less than Rs. 15,000, PF is a must.
The only option is if the company is not coming under the purview of PF due to less manpower, then there is no need to deduct PF.
From India, Madras
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