Dear All, I saw a notification on PF to be deducted from Expat's salary unless the Expat employee is from a country which has a Social Security Agreement with India. Are there are any circumstances under which such an Expat does not fall within the purview of PF Act and hence does not need to forgo 12% of his/her Basic Pay.
Secondly, can an organisation or any employee of it that has Voluntarily registered itself for PF deregister from PF Act ?
Thanks,
From India, Gurgaon
1Secondly, can an organisation or any employee of it that has Voluntarily registered itself for PF deregister from PF Act ?
Thanks,
From India, Gurgaon
Under no circumstances can an international worker be excluded from the operation of Employees provident Fund schemes.
An establishment once covered by the EPF Act whether voluntarily or by operation of law, will be covered till liquidation.
Regards,
Madhu.T.K
From India, Kannur
An establishment once covered by the EPF Act whether voluntarily or by operation of law, will be covered till liquidation.
Regards,
Madhu.T.K
From India, Kannur
can any Expat in india withdraw employee contribution part (if not employer part) while leaving India (on migration purpose) after resignation form the organization in india
From India
From India
The same rules regarding withdrawal as is applicable to others is applicable to expats also. Therefore, he can withdraw it when he leaves India. Regards, Madhu.T.K
From India, Kannur
From India, Kannur
Dear Madhu, I am not too sure if this correct, to my knowledge Indian workers are allowed to withdraw their PF balances under a number of circumstances, international workers will be only able to do so on retirement at 58 years against 55 years for local workers, according to the latest changes made through an amendment to the Employees' Provident Funds Scheme, 1952.
However, in the case of permanent and total incapacity to work due to metal infirmity withdrawal will be allowed.
Overseas workers will need to keep their bank account in India till the refunds are received in such account.
For example, an foreign worker who completes his employment in India at the age of 50 years will have his contribution blocked for 8 years and will have to keep his bank account open till then.
Foreigners will be happy leaving their funds in India, which will earn nearly 9% return against much lower they can get back home.
But there is a new rule expected to be in effect since April 11 as per which provident fund accounts inactive for than three years will not earn any interest. Once this rule come into effect this extra return will be available only for three years after an expat leaves India.( I am not too sure of this last bit if it is implemented or not)
From India, New Delhi
However, in the case of permanent and total incapacity to work due to metal infirmity withdrawal will be allowed.
Overseas workers will need to keep their bank account in India till the refunds are received in such account.
For example, an foreign worker who completes his employment in India at the age of 50 years will have his contribution blocked for 8 years and will have to keep his bank account open till then.
Foreigners will be happy leaving their funds in India, which will earn nearly 9% return against much lower they can get back home.
But there is a new rule expected to be in effect since April 11 as per which provident fund accounts inactive for than three years will not earn any interest. Once this rule come into effect this extra return will be available only for three years after an expat leaves India.( I am not too sure of this last bit if it is implemented or not)
From India, New Delhi
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Expat PF Excluded Employees Contribution & No Due Certificate Clarification.p df