Employer Can give exemption to employee for deduction on Provident Fund on what condition
From India, Pune
1From India, Pune
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Exemption from EPF for a particular employee is not possible. If the employer is having better schemes than what are offered by EPFO, then the establishment may be exempted from EPF. At the same time if the employee concerned is a new employee (joined some time after 1st Sept 2014) who had no existing PF account then he can be excluded from PF provided his salary is more than Rs 15000. For an existing member cannot get excluded from PF.
(Why should an employee chose to be out of EPF? When no other agency, Bank, nothing, is giving an interest higher than what is offered by EPFO why should an employee say that he would like to go out of EPF?)
From India, Kannur
(Why should an employee chose to be out of EPF? When no other agency, Bank, nothing, is giving an interest higher than what is offered by EPFO why should an employee say that he would like to go out of EPF?)
From India, Kannur
Hi,
Where ever possible for higher basic categories limit the PF contribution on Rs.15000/- basis instead of actual basic. It is very common in many Organization employees expressing willingness to get salary without any statutory deductions. Reason being their Take Home salary on monthly basis will be bit high without any deductions
Other reason is of late it is very common in IT/ITES sectors to include Employer PF in CTC there by a maximum of Rs.3600/- goes to PF thereby impact will be there on their Take Home salary. This is the reason for their request to exempt them from PF.
In general most of the employees look at current monthly pay out rather than savings for future.
From India, Madras
Where ever possible for higher basic categories limit the PF contribution on Rs.15000/- basis instead of actual basic. It is very common in many Organization employees expressing willingness to get salary without any statutory deductions. Reason being their Take Home salary on monthly basis will be bit high without any deductions
Other reason is of late it is very common in IT/ITES sectors to include Employer PF in CTC there by a maximum of Rs.3600/- goes to PF thereby impact will be there on their Take Home salary. This is the reason for their request to exempt them from PF.
In general most of the employees look at current monthly pay out rather than savings for future.
From India, Madras
Provident fund.zip
PROVIDENT FUND.rar
PROVIDENT FUND.doc