In an employee-friendly move, the government today made provident fund contribution optional for workers getting salary below a threshold.
However, the employer will continue to contribute his share of the PF irrespective of the worker opting not to pay his contribution.
“…for employees below a certain threshold of monthly income, contribution to EPF should be optional, without affecting or reducing the employer’s contribution,” Finance Minister Arun Jaitley said in his budget speech.
Please let me know in detail, thank you.
Source : http://www.financialexpress.com/article/personal-finance/union-budget-2015-pf-contribution-made-optional-for-employees/48970/
http://articles.economictimes.indiatimes.com/2015-02-28/news/59612858_1_contribution-epf-mp-act-withdrawal
From United States, Columbus
However, the employer will continue to contribute his share of the PF irrespective of the worker opting not to pay his contribution.
“…for employees below a certain threshold of monthly income, contribution to EPF should be optional, without affecting or reducing the employer’s contribution,” Finance Minister Arun Jaitley said in his budget speech.
Please let me know in detail, thank you.
Source : http://www.financialexpress.com/article/personal-finance/union-budget-2015-pf-contribution-made-optional-for-employees/48970/
http://articles.economictimes.indiatimes.com/2015-02-28/news/59612858_1_contribution-epf-mp-act-withdrawal
From United States, Columbus
Hi, Please clarify whether this scheme of optional for employee share is applicable or not. We need to implement in our company if it is allotted. please reply
From India, Bangalore
1From India, Bangalore
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf