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Hi All, I had a PF account with my last company which I closed during the Covid situation and withdraw the money. This happened in 2020. Now, I have recently joined a company where they have PF. Can I opt-out of PF since my basic is above 15000 and my earlier account is closed? Please advise.


From India, Chennai

Yes, you can opt out. You are excluded employee as per PF & Misc. Act as you have withdraw money from your earlier account and closed every thing. You will be considered as fresh candidate. As your PF Gross is more than 15,000/- per month you have option either to join voluntarily and in that case you will not be the member of EPS rather all contributions both employer and employee will be deposited to PF account only. If you like otherwise, you may not be the member of PF. My personal suggestion you should continue as PF membership for its several facilities and future forced savings with ITAX free interest.

S K Bandyopadhyay ( WB, Howrah)

From India, New Delhi

Dear Sudheer,
why do you not want to opt EPF membership? You have option to not opt EPF membership but you should have to continue with EPFO becoz this will facilitate best social security standerds to you and your family. Big Box having many more for you like EDLI benfits, higher inerest rate etc
If you had activated UAN while final claim of last employment. You can continue it with same UAN.

From India, Gurgaon
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