If this is possible, what is the procedure to get this done?
Awaiting your prompt answers.
Thanks,
Gaurang S
From India, Mumbai



From India, Hosur
No, its not possible in any case. they must contribute to PF if their basic salary is below Rs 6500/-. Its mandatory. In case they are already member of PF and their Basic salary crosses the limit of Rs 6500/-, in that case too they have to be continue to be the member of PF. But if they are already member of PF and joins new organisation, in that case they may opt out of PF only if their basic salary is above Rs. 6500 for which they have to give the undertaking to the new employer that they dont wish to be a member of PF. But this too depends on the company policies because generally companies do not allow such practices.
Amit Goyal
From India, Delhi
From India, Bangalore
Exemptions under the Schemes</SPAN>
Provident Fund
- An individual member getting Provident Fund benefits on par with or better than statutory provisions can apply for exemption in Form 1 under para 27.</SPAN>
- Employers can apply for exemption in respect of a class of employees getting similar or better benefits than the statutory P.F. Scheme under P. 27A subject to the conditons governing grant of exemption.
- </SPAN>The employer can seek exemption from P.F. Scheme for the entire establishment if the majority of the employees also consent for exemption, subject to certain conditions governing grant of exemption and certain formalities.
From India, Bangalore
Is it possible to opt out PF scheme for those who have voluntarily joined the scheme (with basic pay more than Rs.15k) ? As they don't want to withdraw the money but want to stop the contribution.
Please advise.
Thanks,
Nikita
From India, Jamnagar
Is there any option to not joining in PF for any employee who has recently joined the organisation with higher salary then the PF slab and he also not a member of PF in his immediate previous company, but he was a member in PF Scheme in his carrier starting stage and already withdrawn all his PF benefits.
Santosh
From India, Kakinada
From India, Ahmedabad