Can I opt out of PF contribution if my basic wages are Rs 15,000/-? If an employee is working in Company X and their basic wages are more than Rs 15,000/- and they have opted out of PF contribution, but later they join Company Y where their basic wages are Rs 14,000/-, will their PF be deducted in this case?
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Corrected text:
Can I opt out of PF contribution if my basic wages are Rs 15,000/-? If an employee is working in Company X and their basic wages are more than Rs 15,000/- and they have opted out of PF contribution, but later they join Company Y where their basic wages are Rs 14,000/-, will their PF be deducted in this case?
From India, Varanasi
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Corrected text:
Can I opt out of PF contribution if my basic wages are Rs 15,000/-? If an employee is working in Company X and their basic wages are more than Rs 15,000/- and they have opted out of PF contribution, but later they join Company Y where their basic wages are Rs 14,000/-, will their PF be deducted in this case?
From India, Varanasi
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The legal principle is that once an employee is a member of EPFO, he or she continues to be so irrespective of the salary being drawn. In the second company, the employee draws wages less than Rs. 15,000/- per month; so, even otherwise, he is required to subscribe to PF.
From India, Mumbai
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From India, Mumbai
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EPF-Circular-da ted-23-May-2011 -Splitting-of-M inimum-Wages-fo r-the-Purpose-o f-PF-Contributi on-Not.pdf
EPF ESIC AND PT calculation below and above 15000.xls