Hi All,
I am HR of one of the Pvt ltd company, few of our empployee don't want to go for PF as their basic salary more than 20k & he don't have PF in last company. So which is then form I have take sign from him?
2nd Query - Another guy who have PF in his last company but he would like to withdraw that PF amount and in my company he again don't want to go for PF so to him also I can give your same form as per point no.1 ?

From India
Asso.Prof.(Commerce & Management)

There is no form prescribed in the Act to opt out as they are already excluded from the purview of the act as they have crossed Rs.15k p.m.salary. Whether to cover them as option is your choice, as there is no compulsion on employer's side.
2) This employee need not worry you to encash his accumulation in his EPF a/c when he was serving in erstwhile employer. He can directly claim from the respective EPFO for withdrawal in the prescribed form.
In case they want an option to continue the contribution, voluntarily, you may allow for the salary limiting to Rs.15k only.

From India, Bangalore
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