Sr. Hr Executive @ Polymerupdate
Assistant Engineer, Indian Telephone Industries,
Working As A Manager - Hr
Hope it helped :)
29th January 2013 From India, Mumbai
30th January 2013 From India, Bangalore
we cant stop the pf contribution form either sides ( employer, employee)
But if new joined employee gets more than 6500 as basic we take sign on form 11 than we are exempted such employees from pf paying.
2) if the employee is already member of pf , we should pay the contribution to EPFO.
Thanks & regards
30th January 2013 From India, Visakhapatnam
1) If the basic pay is more than 6500, the employer need not contribute Provident Fund towards the concerned employee.
2) At their own interest, the employer also can voluntire & they can contribute PF to the employee who is drawing more than 6500 as basic.
3) If the employee is not willing to contribute since the basic is above 6500, as per your statement after getting consent from the employer he can stop contribution towards PF.
4) According to my knowledge, i heard if an employee contributing PF for 10 years of continuous service, he / she will be eligible for reduced pension at the age of 50 years and full pension at the age of 58 yrs. So why the employee should stop PF contribution?
R.Dhamodhara kannan [RDK]
31st January 2013 From India, Tiruchchirappalli
26A. Retention of membership
(1) A member of the Fund shall continue to be member until he withdraws
under paragraph 69 the amount standing to his credit in the Fund or is
covered by a notification of exemption under section 17 of the Act or an
order of exemption under paragraph 27 or paragraph 27A.
Explanation: In the case of claim for refund by a member under subparagraph (2) of paragraph 69, the membership of the fund shall be deemed
to have been terminated from the date the payment is authorised to him by
the authority specified in this behalf by Commissioner irrespective of the date
(2) Every member employed as an employee other than an excluded
employee, in a factory or other establishment to which this Scheme applies,
shall contribute to the Fund, and the contribution shall be payable to the
Fund in respect of him by the employer. Such contribution shall be in
accordance with the rate specified in paragraph 29:
Provided that subject to the provisions contained in sub-paragraph (6) of
paragraph 26 and [in paragraph 27], or sub-paragraph (1) of paragraph 27-
A, where the monthly pay of such a member exceeds [six thousand and five
hundred rupees] the contribution payable by him, and in respect of him by
the employer, shall be limited to the amounts payable on a monthly pay of
[six thousand and five hundred rupees] including [dearness allowance,
retaining allowance (if any) and] cash value of food concession]
31st January 2013 From India, Madras