That Means as a total he can contribute up to 24% of his Basic 12% — — Statutory 12% — — - Voluntarily and in addition 12% of Employer. Pls. Correct if Wrong. Thanks, Rahul
From India, Delhi
11From India, Delhi
ya employee needs to declare he/she wants to deduct his Pf on Gross not on basic ,so definitely his contribution would be increase,but any case contribution is 12%.but total ammount will be increase.
From India, Ahmadabad
From India, Ahmadabad
Manjali,
i am Vishwa Sehgal The Head Human Resources of an international BPO. Answering your query the liberty to come out and stop paying can only happen in Personal provident fund.
In the company books once the PF is deducted and the employee is drawing less than 6500/- , It is mandatory to remain on the PF deduction.
but once the slab of salary goes up, he or she can opt for the same amount instead of 12% of the basic.
Feel free to contact me at the same email Id or call me at 9967573663
take care
Vishwa
i am Vishwa Sehgal The Head Human Resources of an international BPO. Answering your query the liberty to come out and stop paying can only happen in Personal provident fund.
In the company books once the PF is deducted and the employee is drawing less than 6500/- , It is mandatory to remain on the PF deduction.
but once the slab of salary goes up, he or she can opt for the same amount instead of 12% of the basic.
Feel free to contact me at the same email Id or call me at 9967573663
take care
Vishwa
Dear Mehul Mehta If you want to contribute more than there is no problem but the contribution of the Employer will remain same. Darshak Mehta
From India, Mumbai
From India, Mumbai
Dear Mr.Kumar !
Yes.
PF deduction is compulsory.
There is a Statutory Act regarding the PF i.e. is "The Employees Provident Fund and Miscellanious Provisions Act".
The Major benefit with the coverage of PF is, if any employee works for One day and on any reason if he/she dies, his/her dependant spouce will get the pension for whole life, and two children will get a minimum amount for their education until they get the age of 21 if boy, 25 if girl.
I think you better understood what is the benefit with PF coverage.
Regards.
KARANLAL,
Manager-HR&Admn
From India, Hyderabad
Yes.
PF deduction is compulsory.
There is a Statutory Act regarding the PF i.e. is "The Employees Provident Fund and Miscellanious Provisions Act".
The Major benefit with the coverage of PF is, if any employee works for One day and on any reason if he/she dies, his/her dependant spouce will get the pension for whole life, and two children will get a minimum amount for their education until they get the age of 21 if boy, 25 if girl.
I think you better understood what is the benefit with PF coverage.
Regards.
KARANLAL,
Manager-HR&Admn
From India, Hyderabad
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Compulsory Detailes PF withdrawal Form.xls
HC All - Trainees not covered for PF -2010.pdf