Hi,
One of our employee is registered under PF and is contributing 12% unrestricted from the date of joining. But from 1st April 2014 , he wish to restrict his contribution to minimum. is this allowed under provisions of provident fund act. if yes please share relevant notification.
From India, Bangalore
One of our employee is registered under PF and is contributing 12% unrestricted from the date of joining. But from 1st April 2014 , he wish to restrict his contribution to minimum. is this allowed under provisions of provident fund act. if yes please share relevant notification.
From India, Bangalore
Not possible now. 12% is the mandatory contribution. The opposite is possible. He can contribute more than 12% as VPF - voluntary PF. There are quite a lot of people who are opting for this option as it offers lot of benefits in the current scenerio.
Regards, A.B.
From India, Mumbai
37Regards, A.B.
From India, Mumbai
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