This is a urgent request to all of you. I have nominated myself for VPF in my company last month . Today i checked my salary and my company has deducted the VPF as requested . However i rechecked my 80 C and see that i am already crossing 1 lac limit . So i requested them to cancel it from next month as i wanted to withdraw my nomination for VPF . I got the answer from my payroll department that i can only be cancelled at the end of the financial year which i know is not true and we can request to cancel anytime . My company have trust PF department .
Can anybody share the govt guidelines where it is mentioned that i can request for cancellation at any time . Help is appreciated .
From United States, Boston
Can anybody share the govt guidelines where it is mentioned that i can request for cancellation at any time . Help is appreciated .
From United States, Boston
Dear Gagan
VPF deduction is totally voluntary on the employees decision. There is no such rule that it should continue for whole financial year..
It can be withdrawn at any time. Just write a letter to the head HR or can personally talk , mentioning for cancellation of VPF deduction w.e.f month onwards.
or it's better to reduce the amount to the limited ceiling..
It's upto you.
Regards
B.Anand Kumar
From United Kingdom, London
196VPF deduction is totally voluntary on the employees decision. There is no such rule that it should continue for whole financial year..
It can be withdrawn at any time. Just write a letter to the head HR or can personally talk , mentioning for cancellation of VPF deduction w.e.f month onwards.
or it's better to reduce the amount to the limited ceiling..
It's upto you.
Regards
B.Anand Kumar
From United Kingdom, London
dear all,
In my company, PF of 780 is deducted to all and I just requested to VPF (12% of gross) from this month and the account department has replied that it cannot be done in the middle of the financial year. does there any rule on this...pl clarify
From India, Madras
In my company, PF of 780 is deducted to all and I just requested to VPF (12% of gross) from this month and the account department has replied that it cannot be done in the middle of the financial year. does there any rule on this...pl clarify
From India, Madras
Shabana
First of all VPF is always deducted on Basic not on Gross. and VPF can be deducted upto 100% of the basic as per employees desire.
Please just go through the PF directory on EPF website.. Their is no rule that it should be continue for financial year.
Accounts department can decide it ....they do it as per Payroll inputs provided by the HR.
Kindly approach your HR department or concern who looks after PF for more clarification.
From United Kingdom, London
First of all VPF is always deducted on Basic not on Gross. and VPF can be deducted upto 100% of the basic as per employees desire.
Please just go through the PF directory on EPF website.. Their is no rule that it should be continue for financial year.
Accounts department can decide it ....they do it as per Payroll inputs provided by the HR.
Kindly approach your HR department or concern who looks after PF for more clarification.
From United Kingdom, London
Dear All,
This indeed a very interesting discussion.
This is a fact that niether the Act nor the scheme provide such condition that voluntary contribution once started will have to be continued till the end of financial year. However, the regulation of the Trust may have such provision and accordingly the same is being mandated. Such provisions are there in case of majority of Trusts.
Regards
From India, Pune
This indeed a very interesting discussion.
This is a fact that niether the Act nor the scheme provide such condition that voluntary contribution once started will have to be continued till the end of financial year. However, the regulation of the Trust may have such provision and accordingly the same is being mandated. Such provisions are there in case of majority of Trusts.
Regards
From India, Pune
sir i recently registered voluntary basis epfo but i wrongly enter back date means last one and half year date. But employee are not joined in that. but i need to change that date how. Its possible or not. which person i consult in epfo office. And cancelled my registrations epfo. How is it any way to cancelled my registration...one person told to me when u have Epfo code that date should you pay the epfo. And another person told me last date one and half year date you mention on application that date should you pay the epfo. how can i change the date or cancelled my registration. this is my email : 
..please tell the solution
From India, Visakhapatnam
From India, Visakhapatnam
Dear ANNONYMOUS Friend,
Is allotment of registration number done by EPFO?
Mostly not done. Because, application under 1(4) is decided by CPFC on verifying certain parameters and the CPFC comes out with notification of allotment of number from the date mention in the notification which is not retrospective.
You can write to EPO and inform about your mistake and request for correction of details.
Even the department has issued you a code number under 1(4), you can apply for cancellation of the same. There is no provision in the Act permitting withdrawal from coverage but by operation of Law, you are coverable under the Act. There are some case laws on it.
From India, Mumbai
Is allotment of registration number done by EPFO?
Mostly not done. Because, application under 1(4) is decided by CPFC on verifying certain parameters and the CPFC comes out with notification of allotment of number from the date mention in the notification which is not retrospective.
You can write to EPO and inform about your mistake and request for correction of details.
Even the department has issued you a code number under 1(4), you can apply for cancellation of the same. There is no provision in the Act permitting withdrawal from coverage but by operation of Law, you are coverable under the Act. There are some case laws on it.
From India, Mumbai
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