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
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
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
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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