Can any body please guide me on the issue that is PF deduction is compulsory. In case I want the PF not be deducted from salary and paid out alongwith the monthly salary then is their any govt rule that prevents company from doing so.
From India, Bangalore
From India, Bangalore
If your Basic + D.A. is more than 6500 per month then you can avoid pf deduction , but what i would suggest is PF is a good thing its secure your future , If you decline your right of PF then employer contribution of 12% wil go out of your hand,
See there are 2 contributions 1. employer 2. employee
If you say no to pf deduction you will be loosing on employer contribution as well
From India, Pune
1See there are 2 contributions 1. employer 2. employee
If you say no to pf deduction you will be loosing on employer contribution as well
From India, Pune
You have to contribute pf if your salary is under Rs.6500/- pm. If it exceeds Rs.6500 you can have the option to exclude yourself by giving to the company in writing.
From India, Madras
From India, Madras
Dear Prashantg
There are certain rules and guidelines given under Employee Provident fund and miscellaneous act 1952. It says if your company is registered under PF then every body has to be compulsorily under pf coverage. There is two choices with the company either to go with 6500/- basic or actual basic for pf deduction. Depends on company policy. If your opted for first choice no need to deduct pf for basic above 6500/-. You can not just ask employer not to deduct pf. You can go for voluntary contribution if your employer accepts it.
With regards
snjv
From India
There are certain rules and guidelines given under Employee Provident fund and miscellaneous act 1952. It says if your company is registered under PF then every body has to be compulsorily under pf coverage. There is two choices with the company either to go with 6500/- basic or actual basic for pf deduction. Depends on company policy. If your opted for first choice no need to deduct pf for basic above 6500/-. You can not just ask employer not to deduct pf. You can go for voluntary contribution if your employer accepts it.
With regards
snjv
From India
Hi Meghli, P ramachandran & Snjv,
many thanks for answering the query and enlightining me on the topic.
But I have one more doubt that if the employer agrees not to deduct the PF (considering basic + DA = 16000/- pm) then in this case will the employer payout its 12% contribution also as part of monthly salary.
From India, Bangalore
many thanks for answering the query and enlightining me on the topic.
But I have one more doubt that if the employer agrees not to deduct the PF (considering basic + DA = 16000/- pm) then in this case will the employer payout its 12% contribution also as part of monthly salary.
From India, Bangalore
Dear prashanth,
you would have made agreement at the time of your joining,that your CTC (cost to company)should include the pf contribution,if the company paying pf contributions to others. otherwise you can also contribute pf (from the date of joining)on the ceiling amount of Rs.6500/- everymonth and you will get company contribution of 780 everymonth also.
Wishing u a happy deepavali!
From India, Madras
you would have made agreement at the time of your joining,that your CTC (cost to company)should include the pf contribution,if the company paying pf contributions to others. otherwise you can also contribute pf (from the date of joining)on the ceiling amount of Rs.6500/- everymonth and you will get company contribution of 780 everymonth also.
Wishing u a happy deepavali!
From India, Madras
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