Gajinder
1

Dear Seniors, There are some employees in our office who want to increase their PF contribution by more than 12% (employee share). Please let tell me that is it feasible if yes then what is the process for it and will the employer also have to increase his contribution??

Thank You

From India, Patiala
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Madhu.T.K
Industrial Relations And Labour Laws
Rkn61
Hr Manager
Gurupada1986
Hr Manager
Amit-singh1
Assistant Manager-hr

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amit-singh1
2

Dear,
Any EPF member who is registered under your establishment can apply for increase of employee share more than 12% as VPF. EPF member can opt VPFto increase contribution by extra 12%, 24%, 36% or any fixed amount. EPF member can contribute 100% of his basic salary + DA. You should have to designed a format as declaration by EPF member & submit it to RPFC Office.
Employer share remain same i.e. 12% . Employer will not contribute any excess amount.

From India, Gurgaon
Gurupada1986
5

Sir please share designed format of declaration we have facing same problem
From India, New Delhi
amit-singh1
2

Dear, You may draft Format for VPF with consultation to your Regional EPFO office. Although I have attached a copy of format for your reference.
From India, Gurgaon
amit-singh1
2

Date……………………….

To,

The Regional PF Commissioner
PF Building, Sub Regional Office
Vijay Nagar
Jabalpur


Sub- Increase of own PF Contribution by ………………….. as VPF



Dear Sir,

I am an employee of M/s …………………………………………………………. having UAN ……………………….. or PF A/c No. ……………………………………………
I want to increase my (own) PF contribution by ……………….. per month w.e.f. …………………………
You are therefore requested to kindly allow for the same.


Thanks & Regards


Signature :
Name :
UAN :
PF A/c No. :

From India, Gurgaon
Madhu.T.K
3735

The RPFC will not entertain such forms. Also there is no prescribed format for higher contribution. Therefore, if the employee(s) wish to contribute at a higher rate than 12%, you can get a consent letter authorising your Personnel Officer to deduct PF from the salary accordingly and remit the same along with the other contributions. There is no need to submit any declaration or consent letter to the EPFO. Even the consent letter mentioned above is only to safeguard our own interests that tomorrow the employee should not say that he did not ask for higher contribution but the Personnel Manager/ HR Manager/ employer only did it without his permission. A specimen of such an application/ consent is attached for your reference.

Any higher contribution can be stopped at any point of time on getting instruction from the employee.

From India, Kannur

Attached Files (Download Requires Membership)
File Type: doc Consent for VPF.doc (26.0 KB, 40 views)

rkn61
559

You cannot opt-out of or withdraw from a VPF scheme in the middle of the year. You can contribute 100% of basic plus dearness allowance (DA) as an investment in VPF. If the VPF money withdrawal takes place within five years, you need to pay tax on the interest amount earned from your contribution towards the VPF.

You can choose to start, stop, increase or decrease your VPF contributions every month. However, some employers/companies provide a window to make these changes only at the beginning of the financial year. So, you need to check with your employer/company

From India, Aizawl

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