Hi All, Can anyone help me with this circular or gazette on the below statement or else mentioned in the ACT for opting out PF for a new joiner who doesn't have any previous employment history? An employee with a basic salary of over Rs. 15,000 and who has never been a member of EPF can opt out of the scheme. But once they become a member, they cannot opt out of the scheme.
Thanks
Subramanyam
HRD
From India, Hyderabad
Thanks
Subramanyam
HRD
From India, Hyderabad
Yes, if you are not an existing member of EPF, and joining a new establishment with a basic salary of more than Rs 15000, then you can be excluded from EPF. A declaration in form 11 that you do not have any Universal Account Number (UAN) allotted by the EPF is required to be submitted to the employer so that they can exclude you. At the same time, if you are an existing member of PF, then you should continue the membership even if your salary exceeds Rs 15000.
From India, Kannur
4200From India, Kannur
Dear Subramanyam, You can opt out EPF as per Sec 17 under employees provident fund and miscellaneous Act, 1948, however if your employer is exempted establishment.
From India, Telangana
From India, Telangana
Mr K.Ramesh, section 17 of the EPF and MP Act 1952, speaks about exemption to an establishment and not excluding an employee from the coverage. Exemption is granted to such establishments who are able to provide employee benefits better than what is provided by EPFO, and even an establishment which is not exempted but covered by EPF can exclude certain employees from coverage. The post related to excluding an employee and not exempting an establishment.
From India, Kannur
From India, Kannur
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