Dear managers,
I joined a new company in March. My previous company did not have the Provident fund system.
In my new company as per my offer only, deduction of one PF is shown, but in real 2 PF's are deducted when I inquired with the HR they said one is the company's contribution and other is my personal contribution.This reduces my net salary.
Is it possible to stop the personal contribution or withdraw the amount?
If yes, please tell me the procedure.
From United Kingdom,
1I joined a new company in March. My previous company did not have the Provident fund system.
In my new company as per my offer only, deduction of one PF is shown, but in real 2 PF's are deducted when I inquired with the HR they said one is the company's contribution and other is my personal contribution.This reduces my net salary.
Is it possible to stop the personal contribution or withdraw the amount?
If yes, please tell me the procedure.
From United Kingdom,
Hi,
If your basic salary is more than Rs. 6500 pm , you are exempted from PF.
But generally, in organsiations who have PF, do not go for it because it is difficult to monitor.
Moreover, PF is good thing and you should avail it.
Also try to understand, if you do not avail pf you will be loosing out the employers contribution whihc is a loss.
For any further clarification feel free to write or discuss.
From India, Mumbai
If your basic salary is more than Rs. 6500 pm , you are exempted from PF.
But generally, in organsiations who have PF, do not go for it because it is difficult to monitor.
Moreover, PF is good thing and you should avail it.
Also try to understand, if you do not avail pf you will be loosing out the employers contribution whihc is a loss.
For any further clarification feel free to write or discuss.
From India, Mumbai
Hi
PF contribution is always seen as 12% EE(Employee contribution) and 12% ER(Employer contribution) of the basic pay. If you have already opened a PF a/c, you cannot close the same or withdraw any amount unless you decide to resign from the organization.
Usually a lot of companies that follow a CTC structure do not show one part of the contribution on the payslip.
PF is a good saving option though it brings down your take home. To know more about PF, you can visit epfindia.com. This site is very helpful and will help you gain a better understanding.
Regards
Namrata
From India, Mumbai
PF contribution is always seen as 12% EE(Employee contribution) and 12% ER(Employer contribution) of the basic pay. If you have already opened a PF a/c, you cannot close the same or withdraw any amount unless you decide to resign from the organization.
Usually a lot of companies that follow a CTC structure do not show one part of the contribution on the payslip.
PF is a good saving option though it brings down your take home. To know more about PF, you can visit epfindia.com. This site is very helpful and will help you gain a better understanding.
Regards
Namrata
From India, Mumbai
i've joined in an organisation with salary of 12000, they're deducting 930/- every month for PF and ESI. but the problem is they are not giving any pf number and esi number. i don't know whether they are paying to govt or not. if i want to complain on this issue whom should i consult and what is the procedure to complain on an organisation.
From India, Hyderabad
From India, Hyderabad
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