Some of our company employees wish to not deduct their EPF amount from salary. Their basic is above 15000/-. Can anyone please send a declaration form which we can collect from employees?
From India, Greater Noida
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From India, Greater Noida
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Dear Colleague,
As per provisions of EPF:
1. If the employee is drawing above 15k salary at the time of the first appointment, then he can be exempted from the PF coverage.
2. If he was earlier a member of PF and having an active UAN, then despite crossing 15K salary, he needs to be covered under EPF/EPS, etc. However, the contribution can be restricted to 15K.
3. If the employee is drawing a 15K salary subsequent to their coverage under EPF/EPS, they cannot be exempted, but they continue to be a member, and contributions are to be remitted.
Hence, take a call suitably. As far as employees drawing above 15k salary per month, they are "exempted employees" under the Act in the instance of the first employment and first coverage, and in their case, no declaration is required. Kindly consult your PF Enforcement Officer and handle this.
From India, Chennai
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321As per provisions of EPF:
1. If the employee is drawing above 15k salary at the time of the first appointment, then he can be exempted from the PF coverage.
2. If he was earlier a member of PF and having an active UAN, then despite crossing 15K salary, he needs to be covered under EPF/EPS, etc. However, the contribution can be restricted to 15K.
3. If the employee is drawing a 15K salary subsequent to their coverage under EPF/EPS, they cannot be exempted, but they continue to be a member, and contributions are to be remitted.
Hence, take a call suitably. As far as employees drawing above 15k salary per month, they are "exempted employees" under the Act in the instance of the first employment and first coverage, and in their case, no declaration is required. Kindly consult your PF Enforcement Officer and handle this.
From India, Chennai
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EPF Scheme Guidelines For Implementation Of PMGKY Credit Of Employers And Employee Contribution .pdf
EPF Composite Declaration Form-F11_Blank. xls