Dear Senior,
Kindly provide me with some information on the Voluntary Provident Fund (VPF) as soon as possible. I need the info. My major doubt is: is there any employer contribution in VPF, or is the contribution only from the employee's side in the case of VPF? Also, please tell me the minimum and maximum amount or percentage of VPF. Please do reply.
Regards,
Bala Sandhya SL
From India, Madras
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2Kindly provide me with some information on the Voluntary Provident Fund (VPF) as soon as possible. I need the info. My major doubt is: is there any employer contribution in VPF, or is the contribution only from the employee's side in the case of VPF? Also, please tell me the minimum and maximum amount or percentage of VPF. Please do reply.
Regards,
Bala Sandhya SL
From India, Madras
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Thank you very much, Malik, for your information. The maximum is 12%, which means what is the minimum amount the employee should pay for voluntary PF or VPF. Other seniors, please post your answers. Only from the seniors, we juniors can improve our knowledge. Thank you once again for the forum. Cite HR.
From India, Madras
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From India, Madras
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Dear Bala,
12% is the employee's share towards EPF, and 12% is the employer's share, out of which 8.33% goes to the pension, and the rest is the provident fund. Now, you can pay a maximum of 12% as VPF. The maximum, and the minimum is as per your choice. The employer will only pay 12%, so VPF and EPF can be up to 24%.
Thank you,
J. S. Malik
From India, Delhi
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12% is the employee's share towards EPF, and 12% is the employer's share, out of which 8.33% goes to the pension, and the rest is the provident fund. Now, you can pay a maximum of 12% as VPF. The maximum, and the minimum is as per your choice. The employer will only pay 12%, so VPF and EPF can be up to 24%.
Thank you,
J. S. Malik
From India, Delhi
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Hi Bala,
Voluntary PF is over and above the statutory PF of 12%. There is no limit for VPF. An employee can contribute as much as he or she may wish; earlier, there was a cap on this. The employee is not required to pay any contribution towards VPF.
Hope this helps.
Regards,
Atishai
From India, Delhi
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Voluntary PF is over and above the statutory PF of 12%. There is no limit for VPF. An employee can contribute as much as he or she may wish; earlier, there was a cap on this. The employee is not required to pay any contribution towards VPF.
Hope this helps.
Regards,
Atishai
From India, Delhi
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Correction:
"Voluntary PF is over and above the statutory PF of 12%. There is no limit for VPF. An employee can contribute as much as he/she may wish; earlier, there was a cap on this. The employer is not required to pay any contribution towards VPF."
Apologies...
From India, Delhi
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"Voluntary PF is over and above the statutory PF of 12%. There is no limit for VPF. An employee can contribute as much as he/she may wish; earlier, there was a cap on this. The employer is not required to pay any contribution towards VPF."
Apologies...
From India, Delhi
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I would tell you in layman's terms that the employer's contribution and the employee's contribution are a maximum of 12%. If you wish to save more, you can increase your contribution, but the employer's contribution will remain the same at 12% (fluctuations may occur based on company policy).
From India, Delhi
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From India, Delhi
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Wow, that's really useful information. I got it clearly. I thought VPF was something entirely different from the normal PF, but after your reply, I understood it's just an additional benefit contributed by employees to gain more benefits in the future. Am I correct? Thank you. :icon1:
From India, Madras
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From India, Madras
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Dear Balaji,
Voluntary contribution depends on the employee; he can contribute up to 100%. However, you need to take permission from EPFO. As for the employer, the maximum contribution is 12%. If the employer is willing to pay more towards EPF, they can do so.
Thank you.
From India, Bangalore
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Voluntary contribution depends on the employee; he can contribute up to 100%. However, you need to take permission from EPFO. As for the employer, the maximum contribution is 12%. If the employer is willing to pay more towards EPF, they can do so.
Thank you.
From India, Bangalore
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Dear All,
In my view, the maximum contribution towards PF, including VPF, is 20%. The employer's contribution will be restricted to 12% only. Approval is needed from the RPFC office. The employee is entitled to interest on such accumulations. The employer's service charge will increase to some extent (0.01%).
Hope this is the latest status.
Regards,
ACCHR
From India, Mumbai
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In my view, the maximum contribution towards PF, including VPF, is 20%. The employer's contribution will be restricted to 12% only. Approval is needed from the RPFC office. The employee is entitled to interest on such accumulations. The employer's service charge will increase to some extent (0.01%).
Hope this is the latest status.
Regards,
ACCHR
From India, Mumbai
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